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> it’s based on little more than mutual belief in one another crypto-coins are an abstraction over art commodities. Devoid of any specific meaning, they are va
by buboard 8y ago
> it’s based on little more than mutual belief in one another
crypto-coins are an abstraction over art commodities. Devoid of any specific meaning, they are valued according to pure belief. One is justified at any time to purchase them and they are unique. They can be interpreted to have almost any meaning. maybe they should be considered works of art themselves.
- GoatOfAplomb 8y agoOne can find an appraiser to value one's fine art at 10x what one paid for it just prior to donating it to a museum. It then provides tax reduction in excess of the purchase price, and so there can be a logical expectation of positive ROI at time of purchase. I'm not aware of any analog with cryptocoins. They suffer a fatal flaw of having a clear market value.