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Even if there is a finite number of coins, at that point it's just speculation and economics of supply and demand. That still doesn't explain any "value" added
by lechiffre10 9y ago
Even if there is a finite number of coins, at that point it's just speculation and economics of supply and demand. That still doesn't explain any "value" added attribute to it. Oil has a finite number of supply, that affects its pricing and supply and demand, but it also serves a purpose( which would explain its value. Someone coming up with an ICO to fund a project that has no benefit or value whatsoever other than to say here's a finite number of coins well that's clearly speculation and if anything pump and dump 101.
- coldacid 9y agoThe value of the token comes from the value and purpose of the protocol the token is used for. For example, Etherium's value itself is backed by the ability to run "smart contracts" on the Etherium platform itself. Most of the classic (hash) coins are pretty much fiat currency, the value coming from the ability to speculate, trade, and spend, like with any real-world currency. Et cetera.
- j0rd 9y agoExcept when the smart contract with 1/2 the ether in it, does exactly what it's programmed to do, then you hard fork and pretend it didn't happen. Because? Value? Sorry, I really lost a lot of faith after that one.