Reply to post: Alternative Hypothesis

Cryptocurrencies to end in tears, says investor wizard Warren Buffett

Nick Kew Silver badge

Alternative Hypothesis

The debasement of the (traditional) coin - whether it be adulteration in a declining Roman empire or today's abuse of fiat - calls for an alternative. Bitcoin is an interesting candidate alternative. It has no inherent value, but then neither do those coins, notes and plastic cards we carry around.

The problem there is the proliferation of competing cryptocurrencies, with nothing inherently to choose between them. And of course the implied hard restart: the people who own real wealth (like land, or Buffett's pile) can just sit it out.

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