The result?
"I dont understand this therefore its worthless"
Buying in at 20k was a bad idea. I bought in (back in) around 2k.
BTC is tech, it makes sense. Do some journalism for once
Some coins were worthless.
BTC is backed by the energy required to make it and like all currencies, confidence.
If there is confidence there is demand, creation requires electricity which costs money.
you buy 1btc,
xfer 1btc to friend in UK
friend sells BTC IMMEDIATELY for full value.
No loss or gain, just an instant value exchange.
Its not like crypto tokens are JUST for trading value.
the ledger can be used to store data as well as regulate distributed systems like autonomous cars for instance