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I don't understand how these coins have value. Surely things only have value if they: 1) have some scarcity, and 2) have some useful purpose. I can see how th
by alphaalpha101 9y ago
I don't understand how these coins have value. Surely things only have value if they:
1) have some scarcity, and
2) have some useful purpose.
I can see how these coins get scarcity, but what is their useful purpose? What can I do with FacebookKillerCoin or TwitterKillerCoin or EAGamesKillerCoin? If they're just essentially 'gift card currency' and the company will buy them off me in exchange for their products, why use a blockchain in the first place? Just call them loyalty points or whatever.
- pbhjpbhj 9y agoMonetary value isn't entirely founded on use-value of anything though. 'Coins' have value because a corpus of people has agreed it; you can exchange one for anything of you can convince someone else the coin has a particular value (which might just mean that it works as a stable exchange currency).