Know The Four Types of Cryptocurrencies Based On Their Utility.
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Currency, Asset, Object and Meme
Oh yhea, ive heard that before.
I won't even address the "meme" part, 'cause if we want to imply economic value in the "lol!!!" factor there is a lot more debating you'll have to.
The closest thing to a good argument this article has is "Object", as in the coins represent some theoretical amount of important resource. But the Crypto market and community is not about ***that***, its about crypto bro bragging that they made 300k$ in the past 3 years. The cryptocurrency market is not interested in a stable commodity market that is used as a medium of exchange: they want peak speculation and more naive investors who believe they can make 300% profit in 2 years. They are Get Rich Quick.
"Currency"? The mean use as a currency bitcoins and other crypto have been used for is to bypass banking regulations and laws. That means it essentially acts as a cover for international criminal activity. Cartels, mafias and terrorist organization have used crypto as a "currency" because for them its the best tool. But for anyone not actually worried about banking regulation interfering in your life, the cryptoassets are simply just not a stable medium, since its value is so volatile. Nobody wants to fix store prices in Bitcoin. Nobody wants to peg their income to the value of the Bitcoin, because the value can fluctuate so wildly you have no idea if your 0.05 Bitcoin paycheck would be worth 2000$, 500$ or 10,000$. The people who are so enthousiast about Crypto are the very ones who undermine its credibility for it to be a reliable currency. And you know why? Because they are poker players, not believers in this use. Only criminals do.
Finally, the "asset" part. That one is hilarious, because the argument as to why crypto currencies are not pointless, fundamentally valueless token is that "they can represent a stable bundle of other fundamentally valueless token". My man, 2008 called and they want their "debt derivatives are not exposed to the same fundamental risks as their underlying debt, because they are BUNDLED" argument back.
