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It's almost as if crypto tokens are intrinsically worthless!
by rippercushions 4y ago
It's almost as if crypto tokens are intrinsically worthless!
- tim333 4y agoThough that's not really the issue here. Obviously they were worth something to the people buying and selling them.
- Vt71fcAqt7 4y agoCrypto is worth something in that it can be sold at a higher price. USD is worth something in that at the point where it isn't you already have much bigger problems
- onlyrealcuzzo 4y agoNot really. If I buy and sell a coin from myself with monopoly money for ever increasing prices - is it really worth anything? Obviously there are some inflows into crypto. But it's about 0.00001% of the daily volume.
- tim333 4y agoYeah but that's not the situation. If you have a bitcoin you can sell it to another person for several thousand real US dollars. Even if you hate crypto it has that value to it. I mean re "about 0.00001%" I've bought and sold bitcoin myself and usually for actual money. True there isn't much intrinsic value to the 0s and 1s making up a bitcoin but there aren't much to the the 0s and 1s making up the US$ or similar in your bank account.
- fshbbdssbbgdd 4y agoThey’re worth something today because people want them today. If they don’t have any real-world yield, that doesn’t make them worth anything tomorrow. As FTT just demonstrated, like so many have before.
- sullyj3 4y agoWait til you hear about how fiat works.
- chrisco255 4y agoYou can think that crypto is absolutely worthless. But then an exchange is like a casino, earning fees on other people's gambling. There's no reason for the casino to go bankrupt, unless...there's fraud going on.