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Ok so what if in that entire scenario above you replace "beanie baby" with "printed slip for a wallet containing 1 BTC". The value stored in cryptocurrencies do
by tehsauce 9y ago
Ok so what if in that entire scenario above you replace "beanie baby" with "printed slip for a wallet containing 1 BTC".
The value stored in cryptocurrencies do actually have a physical manifestation (whether it's the neurons in your brain, or a printed physical wallet that stores your password). It's just that it's physical existence is puny by comparison and very easy to copy/transfer.
- pbecotte 9y agoThat is kind of the point, however, the value isn't created by making the toy or the btc. The value is created when the perceived utility of the underlying goes up. Imagine you own a well. Later they discover a way yo get oil from that type of well. The change in perception is where the increased value comes from.