5Mon
The value of BTC and co. depends on supply and demand. There is no material value here. If everyone sells it, sooner or later it will be worthless. Where does money get its value from? If more money is printed, it loses value. If money is burned, it gains value. BTC is no different. For me, the exciting thing is the technology behind the currency and not the projects behind it. With cryptos, you are independent of banks and anyone with a computer and internet access can access them. Even people who don't have the opportunity to open a bank account. The projects behind it only contribute to people using the currency, but are not necessary in principle. It's the same with the euro. What is the value there? If you can't pay anything with it from one day to the next, it's worthless.
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5Mon
@Snopy You're absolutely right about money, the banknote is only worth something because everyone knows that you can buy something with it. What I meant, however, is that the technology behind cryptocurrencies also works without the coins. In addition, only a few cryptocurrencies have the goal of functioning as a payment method. Imagine, for example, that nuclear power had a coin back then, e.g. "Atomus". Nuclear power was developed and works anyway, regardless of how the coin would have developed. I hope you understand what I mean
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5Mon
@ElGanador Yes, you're right about that. But in this case, coins are actually like shares. If there is a project behind it, then you are investing in precisely this project or company via the coins. If the project is successful, the price of the coin rises, if not, it falls.
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•5Mon
@Snopy Of course, you can also see it that way 🤔
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