Okay, let’s see (and I’m not judging):
- Bitcoin - existential crisis, not negligible chance that it can become totally (as in $0.00) worthless within 12 months
- Ethereum - 20% complete (but can re-code all other things in 20 lines of code)
- MaidSafe - 30% complete
All of these examples have some value and that value may increase, but it’s fairly unlikely any of these networks will be around 20 years later. Gold and silver will.
In the worst case scenario silver has many industrial uses, while both silver and gold have aesthetic applications. Their value can never be 0.
When I hear “the network effect” that raises red flags. A currency needs the network effect, but money doesn’t.
Money can act as store of value, idling by for decades doing nothing. Coins can’t and won’t.
And crypto-currencies can lose their “network effect” just as easily as they gained it. Do you think none of Ethereum’s network effect hasn’t been gained at the expense of the Bitcoin network?
And we’ll see some interesting proof about the value of gold and silver if the Fed ever manages to raise interest rates.