‘Crypto assets are commodities,’ said my neighbour at dinner. No they’re not, I replied, commodities are natural raw materials that have ultimate real-world uses. Crypto is merely a collection of blips in cyberspace to which adherents choose to attribute value. ‘Just like fiat currencies,’ my neighbour shot back. ‘What’s real about them? Aren’t they just an idea in the mind of central bankers?’
And off we went on a ding-dong debate.
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