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1980837 No.1980837 [Reply] [Original]

I still can't wrap my head around cryptocurrencies. Where the fuck does the actual value of the money come from? How does running some memory-intensive routine on your computer translate into dollars?

>> No.1980913

>>1980837
>amount of money in particular coin
>amount of coins in circulation
>price per coin

>> No.1980915

>>1980913
Where does the money come from?

>> No.1980918

>>1980915
from people

>> No.1980920

>>1980915
OH LAWDY

>> No.1980922

>>1980918
this is sorcery

>> No.1980930

>>1980918
Why do they pay money so I can have it? Something isn't adding up here...

>> No.1980932

>>1980930
They assume someone will pay even more for it after they get it from you

duh

>> No.1980934

>>1980837
Go to YouTube and search: what is blockchain, how does Bitcoin work, how does ethereum work.

Go to Investopedia and read: why does Bitcoin have value.

You better off doing your own research than asking here

>> No.1980940

>>1980932
Isn't that called a pyramid scheme, a practice bordering on fraud?

>> No.1980944

>>1980930
You work to get money to pay for items
They mine to get coins to pay for items

You buy stock to sell for a higher price
They buy coins to sell for a higher price

What's hard to get?

>> No.1980954

>>1980944
My salary comes from company revenue that is generated by the goods/services said company offers.

The value of stock, likewise, comes from a corporation's revenue.

The value of bitcoins comes from... convincing others it has value?

>> No.1981022

>>1980940
>what is the stock market
>what are treasury bonds
>what is gold
All of these things only have value because other people say they have value. Gold has utility in that it can be used for jewelry/electronics, but that's pretty much it. Crypto can be used to become anonymous, buy specific products, send money across the globe extremely cheaply, etc. There's plenty of uses for all sorts of currencies if you take the time to think outside the box.

>> No.1981058 [DELETED] 

>>1980954
>The value of stock, likewise, comes from a corporation's revenue
sure, ok gramps. ever heard of twitter? what about tesla. a company's value isn't based simply on revenue anymore. we're entering an era of algorithmic progress so you have to either get on the train or be a caveman and get left behind. My choice? i plan on being an early adopter of brain-machine interface technology and blasting off to Mars in an Elon Musk space rocket au revoir, chimps.

as for the crytocurrency question - like the other poster said, best to do your own research. it's not our job to spoonfeed you.

>> No.1981069
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1981069

>>1980837
>The value of stock, likewise, comes from a corporation's revenue
sure, ok gramps. ever heard of twitter? what about tesla? a company's value isn't based simply on revenue anymore. we're entering a new era of algorithmic progress so you have to either get on the train or be a caveman and get left behind. My choice? i plan on being an early adopter of brain-machine interface technology and blasting off to Mars in an Elon Musk space rocket. au revoir, chimps.

as for the crytocurrency question - like the other poster said, best to do your own research. it's not our job to spoonfeed you.

>> No.1981077

>>1980837
>Where the fuck does the actual value of the money come from?
Mostly from the fact that no government, bank or judge can take it away from you.

>> No.1981095

>>1980940
Yes. Problem is that crypto-currencies, aren't pure speculation pyramids. They are hybrid.

For example Herba-life mixes ponzi and a real product sale. Questionable legal, its a pyramid but it hides behind people will and greed. Not entire speculation.

Bitcoin and Alt-coins mix Ponzi, Stock Market Speculation, Commodity and Liquidity characteristics. If any people should be thankful to drug dealers giving crypto the liquid characteristic.

>> No.1981118
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1981118

>> No.1981138

>>1981077
Which gives it a commodity characteristic, basically "online gold" that hackers will want to steal from you. This is why traders to real money, and wallet services will fall soon or later. Why? Because if you steal from a bank database, they will trace back where the money went you can't disappear +10'000'000 USD of the system just like that. Like a leaking wound, transfers want be found pretty easy and frozen no matter what. Bank community likes to do this when their offshores and money laundry partners are busted.

But if you steal gold banks have to get it back physically, problem is that crypto dont weight, doesnt have volume and can be moved anywhere using the internet. Or even worse you go to your home (wallet) and hide it and even if they know its you (transfer) your house can't be accessed nor confiscated.