Then what is money? State approved piece of paper backed by oil, weapons, war and slavery?
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1 USD is worth 1 USD because you can pay 1 USD of taxes. It is backed by political promises, oil, weapons and war. This can't end well.
Crypto means cryptography. Cryptocurrencies are a variety of things from stablecoin (digital token backed by fiat money often by a private company ), company shares, community projects, scams, scams, ponzi, scams, cool technical experiments and technically bad experiment. In the other hand there is Bitcoin (and Monero to some extent) that is owned by humanity, no foundation, no company, no state. It is backed by a proof of past energy brining the most innovative security system in the history of IT, not based on restricted access and opacity but by economical incentive to play fair with others in a big game theory peer-to-peer network.
Andreas Antonopoulos