“ They really aren’t. A currency is only worth anything if normal people are willing to trade them en masse. For the majority/normal people to trade them en Maße there needs to be an universally agreed upon use for them. A use that taxes give, since no matter who you are, you must pay your taxes in the state issued currency.
Crypto and other alt currency tokens are worthless by definition”
https://reddit.com/r/technology/s/TTK0bCHDDN
Don’t necessarily agree with it, but I get why someone would have that take.
At a global level, a currency has value because it is access to a certain market. So long as that market is good to buy from or sell to, the currency is valuable. If the market is unreliable or barren, the currency loses value. This value trickles down to the average joe.