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I think this analogy is almost correct, but it's better to think of crypto as owning a deed to land. You can in fact hold on to it and trade it, but at the end
by robcohen 5y ago
I think this analogy is almost correct, but it's better to think of crypto as owning a deed to land. You can in fact hold on to it and trade it, but at the end of the day all you are doing is changing the name on the deed. The land stays the land. You can put a house on it (store tokens), or you can build a factory (smart contracts), but the only reason why it has any value is because some other person may want to put a house or build a factory on it. Land has no intrinsic value because it can never truly be owned. It will outlast us all.
- gizmo686 5y agoA land deed gives you the right to have people with guns enforce your will on others who would use that land; and limits the amount that those same people with guns would interfere with your abilith to use that land. Further, in practice, most owned land is near immidietly turned into something that provides direct value. Be it shelter, or widgets.
- BongoMcCat 5y agoso, almost correct, but at the same time the exact opposite? If land has no intrinsic value, what does?
- SQueeeeeL 5y agoI feel like this time of analogy is the exact type of magical thinking the parent post identified.