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I'm no crypto bull, but I don't think it's obvious at all that Bitcoin (or other crypto) is "literally worthless".

• marshmallow_12 6y ago
  from my (admittedly meagar) understanding bitcoin is not backed up by any solid assets. Its value is solely dependent on what someone is willing to pay for it at any given time. It's a gamble that someone will be a bigger fool then you and buy your cryptocurrency. Someone will get hurt eventually.
  • bhupy 6y ago
    It's not (just) that. Gold has an intrinsic value because you can actually do something with it; it's used in semiconductor manufacturing, jewelry, etc. When you buy a gold bar as a store of wealth/value, even though your specific gold bar is probably not going to be used for anything, it holds value because there are other bars of gold just like it that are being used for something. The same holds true for Bitcoin. The one (and only one) use case for Bitcoin is censorship resistant transactions. There will always be some subset of people that use Bitcoin as a legitimate way to transact; black market trading, drugs, people that live in countries that have unstable currencies, etc. This isn't a significant number of people, but it's non-zero. As long as there exists that set of people that legitimately use Bitcoin, Bitcoin has some intrinsic worth.
    • marshmallow_12 6y ago
      it is not backed by any solid assets. This is dissimilar to any other form of currency which is backed by entire countries. In theory btc is no different to gold or anything, really, but in practice it is not universal enough to actually have any apparent value