It's useful because you need massive amounts of energy to attack the network, without the need for a centralized arbiter that can be compromised. (This is why Eth is worthless, because of Vitalik bending over to fork the chain whenever a whale gets robbed)
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Replying to @archaeofuturist @The_Petrichory
But why should I care whether the chain is forked or not?
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(That is, why should I think these have value in the first place?)
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Replying to @HbdNrx @The_Petrichory
It's just a trading token, a dollar doesn't have value either. Hell, gold only has value because it's durable and rare and people like it, it's not like gold has any particularly useful properties when viewed in the context of its rareness. All money is shared delusion.
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Replying to @archaeofuturist @The_Petrichory
Gold is both useful and pretty. The dollar is required by law and backed with force.
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Replying to @HbdNrx @archaeofuturist
That's why gold is not ideal as a currency. Its rarity and useful electrochemical features shouldn't be tied up artificially as a proxy for valuing other things.
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Replying to @The_Petrichory @archaeofuturist
That's actually what makes it useful as a currency
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Replying to @HbdNrx @archaeofuturist
The ideal currency is one that has absolutely no value whatsoever, but meets all the characteristics of a currency. One never has to worry that some new use of a cryptocurrency will artificially change its value because storing value is the only thing it does.
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(The dollar has most of that, but why does it have any value at all? Because the government collects taxes in it and enforces that with guns.)
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A currency with no value is useless as a currency
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