Comments by "Joseph Jones" (@drip369) on "Cryptocurrencies are collectible tokens, not assets or money." video.

  1. The technology is great but there is no actual value to the token itself. A business or a company has the chance to profit which is why their stock prices can increase in value, not just price, where with tokens like Bitcoin, they only have a price because somebody bought it but they bought it in a currency that is backed by faith&debt. To spend a bitcoin it must be converted back into that currency backed by faith&debt. If it has a price because somebody bought it, how do people profit? By selling it for that worthless currency essentially stealing currency for others. Pump&dumpers literally made their fortunes by stealing from others. The US dollar is backed by faith&debt, the bitcoin is backed by the dollar and gold&silver are backed by themselves, and their history. They are real and do not depend on buyers, electricity and internet. Buyers, electricity and internet are not 100% guaranteed but nature cannot destroy 5 elements on the periodic table, where two of them became the perfect forms of money, something currencies cannot, also something tokens cannot
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