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Some have posted and argued that these currencies do not have "real" value. I would argue that CrytoCurrencies do actually have inherent value. A few reasons:
by dagaci 9y ago
Some have posted and argued that these currencies do not have "real" value. I would argue that CrytoCurrencies do actually have inherent value. A few reasons:
1# CrytoCurrencies are free from the existing monopolies of the banking sector, money exchangers and politics. You can argue that those hegemonies should have control, but it is undeniable that there is tremendous value to many in that control weakening and being eliminated.
So you can see a source of inherent value.
#2 CrytoCurrencies are incredibly secure, can be extremely private and become ever more secure overtime because of the effect of mining, every watt burned acts to secure the network in an irreversible way
#3 Mining is the first application, mining secures the network and participants are rewarded. More generalized applications with things like solidity only increases the value of the network.
CrytoCurrencies are very much in an early phase, and not cleanly understood. There's a long way to go.
- zby 9y agoThese are features that are useful only after you accept that the coins have some value. If they don't store any value - then there is no use in security, privacy etc. But the point is that it is the same with all money - people don't want it for itself - but rather because they expect to exchange it for something that they'll want in the future.
- dagaci 9y agoIf your paper money does not store value directly. Which means you can't eat it or directly build anything useful with it. And your checking account is simply a digital representation of that paper then i would argue that a purely digital currency is simply an evolution of that and not actually massively different from paper. The difference being the removal of the requirement of centralized control.
- Drakim 9y ago> Some have posted and argued that these currencies do not have "real" value. I was always puzzled about this. Real people are buying real stuff with crypto currency. It sounds like a Monty Python skit: "Your money isn't real! You didn't buy that! You didn't sell that! This transaction never happened, stop it!"