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I don't get it, either, especially with the Kodak news today. Like, someone please explain if I'm misunderstanding, but can't pretty much anyone create a crypto
by loudandskittish 9y ago
I don't get it, either, especially with the Kodak news today. Like, someone please explain if I'm misunderstanding, but can't pretty much anyone create a cryptocurrency? Do I instantly become valuable if I create one tonight?
- freeone3000 9y agoYes. This is called an "ICO".
- usrusr 9y agoYou can make anything seem valuable by bankrolling a sock puppet buyer to buy from you at a fantastical price while others are watching. Cryptotokens work particularly well because of pseudonymity, a very receptive audience and exchanges that will happily provide a stage for just about anything as long as they get a little cut. Competition between similarly inflated tokens make success and failure a matter of storytelling quality. The legend doesn't even have to personally convince anybody, but it should lend the sock puppet buys some plausibility.