this post was submitted on 09 Feb 2024
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Crypto isn't a currency, it's a commodity for trading. One that doesn't physically exist. No inherent use and no inherent value.
You literally just defined the attributes of a currency. ~~The only difference is that crypto isn't backed by a government.~~
Edited. See below. Apparently some crypto is government backed. There is no functional difference between traditional currency and (at least some) crypto.
A CBDC can be blockchain based, but almost none actually will be. China's isn't. Japan's CBDC is not. In the US, the Federal Reserve is still in early stages but I'm confident it won't use blockchain either.