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RE: someone just told me it was stupid to invest in crypto because it's "literally created out of thin air"

in #funny7 years ago

And they're totally right, all cryptocurrency is created by computers, or out of thin air.

But looking at fiat, the situation is not any different.
All "normal" currencies are also created out of thin air. If more is needed, just let the printing presses work harder.

In olden days there had to be enough gold in deposit to cover the printed money, but governments have kicked that idea to the curb long ago.

So basically there is no difference between what Central Banks are doing and what the cryptocurrency community does.
The difference is that we trust cryptocurrencies, we can check what happens and in some ways control it.

So, let them be ignorant, we'll be laughing in the coming years.