What exactly is the value of cryptocurrencies tied to? Although the prices of stock in company are ultimately what people would pay for it, they're at least tied to a concrete company that produces something or delivers services. What do crypto-currencies do?It's not just a game of hot potato with digital beanie babies, right?
Deflationary and decentralized in a highly inflationary mainstream world, which is a powerful dynamic in of itself.
>>58679523>What exactly is the value of cryptocurrencies tied to?you're mom
>>58679523Bitcoin does nothing that an Excel sheet titled NIGGER.xlsx can’t do.
>>58679523All value is tied to perception. What exactly is the value of baseball cards tied to? What people are willing to pay for them. Cryptocurrencies can provide a lot of utility for transporting value and expressing many forms of value including real world assets. They provide many unique strong guarantees of security and robustness which is why so much infrastructure around them is being developed.
>>58679523>What exactly is the value of cryptocurrencies tied to?They tied to the effort needed to mine them
>>58679523>What exactly is the value of cryptocurrencies tied to?their usefulness of which there is next to none for most
>>58680301>next to none for mostHow do you pay for your drugs online then???
>picWtf nigger
>>58680753it's a hedgehog getting an x-ray, i could think of worse ways to spend money
>>58679523he seems happy :)
1) Price carries information, the core of money is economic signaling. (Read hayek)2) All trust based monies will be corrupted, minor corruptions grant great wealth to the corruptor encouraging further corruption, and will stay corrupted as those in control of money can now rig the tally board.3) Corruption of money is negative sum. When you corrupt money you don't just "get wealth", you fuck up the signaling creating a far less productive & prosperous whole.4) Wealth is Power. Money is a claim on resources, wealth grants control over resources. They are not "powerful & wealthy" they have the "power of wealth"5) If you aren't holding BTC you are short BTC.6) Corruptors of money will not see the value of fixing money as they benefit from it's corruption.7) BTC is trustless money. As Szabo notes, trusted third parties are a security hole too large to leave open in money. Using someone "real trustworthy" to guard money isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted. Trustless money provides an incorruptible signal and is therefore entropically favored, BTC rises because trustless money has a positive externality.
>>58679539It does that trustlessly, the value of which is everything, as everyone has demand for trustless money.
