This all works so well because nobody has any clue what it's actually worth. People think it has value because the technology obscures its worthlessness.
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Replying to @HbdNrx
It's worth whatever people are willing to exchange in value for it.
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Replying to @HbdNrx
What do you think is so senseless about this development?
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Replying to @HbdNrx
Nothing has intrinsic value—there is only intersubjective consensual value (i.e., stuff is worth whatever people are willing to pay for it). And ₿ isn't infinitely replicable when supply is capped at 21M.
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Replying to @mfckr_
Bitcoin 2, bitcoin 3, bitcoin 4, etherium, etc etc etc
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Replying to @HbdNrx
People can fork off new chains as much as they want. Doesn't alter the value of the original blockchain.
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Replying to @mfckr_
Markets can stay irrational for a long time
6:21 PM - 28 Nov 2017
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