link to original reddit post by /u/Ship-Outside
Heya, so Ive listened to the crypto-hype for years and I dont get it. Now, even a friend keeps telling me about it over and over but I have questions he cant answer and Ive never seen them discussed anywhere. So, I hope someone here can enlighten me, or maybe Im actually having a point in my critique.
First of, yes Cryptos are decentralized and thats a plus. I get that.
But, what I struggle to understand is that the value crypto-currencies have is based on the current fiat/state/whatever you want to call it money. How could Bitcoin replace fiat money, if its value is directly linked to fiat money?
Also, I have heard Bitcoins cant inflate/deflate, due to a fixed amount of units. Again, I fail to understand. Inflation/Deflation means that the value of the curency changes. How is that not true for Bitcoins? Doesnt the value of Bitcoin change by way larger magnitudes than regular money?