I have crypto currencies, like I said. I am not knocking it. I am saying use it, invest in it buy goods and services. Just remember that unless it is backed by the power of state (for all debts public and private) or is valuable beyond its monetary value (gold, land, old silver quarters), it cannot replace the currency backed by the state. This is not a technical problem just a legal one. There is nothing preventing the USTreas and Congress from deciding to switch everything over to bitcoin, start operating nodes in a blockchain. If you think that is where it is going, investing in it is a good idea. If you have 50K of speculative money to throw away, maybe that is a good idea too, why not? I am just saying that bitcoin is not going to be valued at US GDP/BitCoin eventual total mining output /21 million = $809,523 or even more absurd world gdp / total = $10mil per. I am not trying to argue, just offer some information that might or might not be helpful to people that look at bitcoin and think, hey maybe I can get rich off this and crypo will replace USD.
