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I sometimes liken cryptocurrency coins and tokens to casino chips. They have no intrinsic value, but they do serve a purpose for some people, and drive a multi-
by astoor 5y ago
I sometimes liken cryptocurrency coins and tokens to casino chips. They have no intrinsic value, but they do serve a purpose for some people, and drive a multi-billion industry. There are even some people who collect casino chips (exonumismatists). This analogy also suggests that they might not ever completely go away.
- nraf 5y agoYou could say (almost) the same thing about fiat money though...
- astoor 5y agoFiat can be used pretty widely, whereas casino tokens can only be used in casinos and cryptocurrency can only be used within the cryptocurrency ecosystem (noting that casinos and the cryptocurrency ecosystem both need fiat on and off ramps to function).