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Yeah I read this the first time around. My point was to explain why a trade tool's value is determined by its ability to trade with it, and demonstrate why leg
by slver 5y ago
Yeah I read this the first time around.
My point was to explain why a trade tool's value is determined by its ability to trade with it, and demonstrate why legality of the currency itself matters.
If you don't understand this, you don't understand the concept of currency in the first place. Something being rare is not sufficient for it to have trade value.
- vmception 5y agoThe concept requires demand, which you already identified. The demand helps retains the exchange rate. You think the demand will evaporate if the cryptocurrency is illegal or hard to obtain. I think this is not true. Compliant hashes will still be easy to generate, acquire, and transfer and some people that they are transferred to will append the hash to a globally stored ledger. These concepts are not bannable.