North Korea Hacks into Cryptocurrency Bybit.

gold is an asset that I can build something with.

digital currencies provide nothing other than an unregulated banking network backed by nothing of value, not the gdp of a country, not gold bars somewhere, not the pledge of a gubmnt or even the world banking system. it could evaporate in a single second and nothing would change on the physical face of the planet.

 

Again, you're generalizing. I had the same doubts, but Bitcoin appears to have set itself apart in several ways. That said, while I think it will last, the rest of "crypto" is a scam and will probably blow up in everyone's face. Do some research. It's interesting how Bitcoin is different. I think it's going to be with us for a long time.

 

That’s too broad of a brush. Yes, there are a ton of scams since it’s so easy to set up a new blockchain, but there are a lot of viable blockchains out there. Ethereum tops the list but there are plenty of others that do money transfer, logistics, IoT, smart contracts, etc. such VeChain which has contracts with actual corporations like Walmart and LVMH (though the size of those contracts does not support its value, not dissimilar to a lot of stocks nowadays I guess).

 

But they're all owned by either a group of initial investors, financial institution, etc. and thus are more about enriching those entities than the blockchain itself. IDK, maybe some are viable long term, but I wouldn't touch anything not named Bitcoin unless it was for the purposes of pure, short-term speculation.

 

If a coin like that gets hacked it becomes worthless so I don’t see the point