It’s not money | Frankology 5

One day you wake up and suddenly every small-timer, big-timer, get-rich-quick-timer is making “money.” It’s not generating income I refer to, it’s actually making “money.”

No one can deny blockchain technology is useful, will be useful for a long time to come, and will play a role in the future, but, it is not money.

Fiat currency is legal tender backed by governments who issue them. Cryptocurrency is a token. A token whose value is not backed but rather agreed upon by many. A token bought with, here’s the kicker, fiat currency.

The notion of a non-governed currency is a noble one, truly it is. It means freedom from these godforsaken governments, but in reality, there is exactly zero chance of uniting all on earth around an idea of this nature – or any idea at all.