Simple case against cryptocurrencies: "Crypto has value" "Why?" "It has value because it's useful for transferring value" "But why does it have value in the first place?"
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If cryptocurrency has value only because it has value, that argument is circular and prone to total collapse. The true value of cryptocurrency is exactly zero.
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Replying to @prince_borgia
That's just another way of saying that it has value because it has value
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Replying to @prince_borgia
Money works because it *represents something* (like a right to a certain amount of x). Bitcoin doesn't represent anything.
12:31 PM - 7 Sep 2018
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