Crypto and the abstract.

[786Trader]

Ironic, perhaps that this time the market shakes and falls (equities and commodities) that the new trend for growth is more bizarre and abstract: Crypto. Something that exists only in the ether (pardon the pun), is not tangible or even easy to spend and only exists in code in the cloud. So as the markets wobble and bend in the world of men, the best investment right now is one that is not real. How does that make sense? I must be old fashioned, believing money represents time and energy exchange for the real, and such energy should not be stored but needs to keep moving, the physical manifestation being cold hard cash, exchanged for commodities, goods or services. But I am still having difficulty with concept Crypto, barring it being a wheeze to generate instant virtual currency as substitute for the physical paper stuff, just much more of it, without the backing of ,say ,Gold.

Am I making sense? I find myself trading on something that exists essentially only in the abstract, yet has value because we put a price on it, but the it of itself only lives in the virtual. I was wandering if this is more symptomatic of the general madness that seems to be afflicting our planet and minds here in 21st century or if it's just me.

 

 

[Guest PandaFace]

Interesting. I wonder if you’d have said the same thing when “money” itself as a concept would have come about?