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And many think something being valuable just due artificial scarcity makes absolutely no sense. There is nothing actual behind it. With fiat money at least ther
by Ekaros 3y ago
And many think something being valuable just due artificial scarcity makes absolutely no sense. There is nothing actual behind it. With fiat money at least there is state demanding it as taxes. Gold, well people think it is pretty.
With crypto, nothing? Just this one is better than others, because it was first? And it is valuable because more people think it will be more valuable in future? Sounds like collectibles which have crashed time after time.
- fsflover 3y ago> Gold, well people think it is pretty. I think that (math and tech behind) crypto is pretty.
- fragmede 3y ago> Gold, well people think it is pretty. $2,100 per oz of pretty? Gold has a history longer than the US dollar and there's a lot more than goes into its price than people think it's pretty. If it were just about being pretty, the market for gold would have bottomed out on the invention of gold colored paint and pyrite would be worth way more than tens of dollars an ounce.