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Yeah, but that still involves an existing industry. Just because that specific power plant doesn't exist yet doesn't mean there isn't a market yet. It gets kin
by vertexFarm 8y ago
Yeah, but that still involves an existing industry. Just because that specific power plant doesn't exist yet doesn't mean there isn't a market yet.
It gets kind of chicken-and-the-egg, but currency didn't come before services. Currency came as a response to services, and investment came as a way to enable people to get large amounts of capital for large projects. Bitcoin isn't looking like that. It can be used for services, but waaaayyy too large of a percentage is being used to entice more investors to come and pump up the value for yet more investors.
It's pretty difficult for laypeople to tell the difference between legit investment and what Warren Buffet is referring to, where you just hope the next guy comes along and pays more. Which is why these scams keep coming back. So far, not nearly enough of cryptocurrency's value is being used to create that power plant.
Can it become a real economy? Yeah, sure. Tulips could have become a real economy too, technically.