3 ms·
not necessarily true: many social phenomena stick, and later you can find usage for them. Gold was mainly a social thing for a long time (embellishing armors an
by fedeb95 3y ago
not necessarily true: many social phenomena stick, and later you can find usage for them. Gold was mainly a social thing for a long time (embellishing armors and weapons) before some usage was find (connectors and other stuff). This may, or may not, happen for cryptocurrencies even if they aren't very useful today.
- ffgjgf1 3y ago> Gold was mainly a social thing for a long time (embellishing armors and weapons) Gold’s role as an instrument for storing and transferring was infinitely more important than that. And it worked quite well at that before stable and competent governments were a thing. It was extremely useful (much more than it is today)
- fedeb95 3y agodo you have any source on that? I got none, just my opinion formed over time. Might be wrong. If that's the case, I'll restate it as follows. I don't see why a technology that bears no initial utility couldn't find it in the future. Again, I'm not sayign it's definitely the case with Bitcoin. Using cryptography in some clever way to record transactions though... but yes, some hype is definitely misplaced.