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Every crypto coin trading at 0USD is likewise scarce. You need to pay attention to the actual economic transactions taking place. Looking at a graph of pure sp
by mjburgess 4y ago
Every crypto coin trading at 0USD is likewise scarce.
You need to pay attention to the actual economic transactions taking place. Looking at a graph of pure speculative value and calling it an economy is, more or less, a scam.
You'll see that when it all disappears.. moreso than the cashflow of, eg., an actual business.
- hackernudes 4y agoIt is true that not all scarce things are valuable. But isn't scarcity is a good quality for a currency? Fiat currencies fail because of money printing. I think many cryptocurrencies are useless and driven purely by marketing and speculation and most tokens are unregulated securities. Bitcoin is someone's attempt at inventing an "ideal" currency and it is being bootstrapped into value and existence. How else could it work? Maybe it will fail, maybe not. > Imagine BTC was actually used for any scale of economic transactions. It would collapse overnight. You never explained why and I am honestly interested in your reasoning here. Are you implying BTC can't scale? It seems like two contradicting thoughts - if it is used, then it becomes less valuable.