I own some bit coin. Have since before 90% of people heard about it. Back when a single bitcoin was worth less than $1.

Here is the thing everyone seems to misunderstand about crypto currencies in general. They are no less fiat currencies than any other. They only derive value because we pretend they have value. The only difference is they are a fiat currency of the mass populace instead of a conventional government. And no, the supply is not capped or limited, it’s an illusion of an algorithm that can be changed at any time by (wait for it) fiat. All it requires is for the 51% miners to agree to change it. You know what you call it when a group of people can set policy that impacts everyone….a government.

So basically it’s a distributed democratic government managing a fiat currency. That’s it. It’s not magical.