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Ferengi rule of acquisition #34: War is good for business
Business yes, but crypto? I struggle to imagine anything that could be of less value in times of war.
Pseudo-anonymous store of value that doesn't require a central institution for transmission?
And actually has no mechanism to store value... so called value is based on a pure speculation
You do know that value is a subjective form of perception right? Value is created because of a belief in a thing. Its all pure speculation.
I know its fun to punch down on crypto but its not like literally all currencies and modern stores of value that aren't actual physical good (and even some of them) suffer from the exact some issue.
So crypto is worthless then because most people perceive crypto as a joke.
Sure. If you perceive crypto as worthless, don't buy it. Poof! Its value is gone. I don't hold crypto nor do I have any use for it. I would guess that similarly to you, it has no value to me either.
But someone else out there has a different perception of things than us. They do see it as valuable. And they are willing to pay, whatever it is that they are willing to pay to get access to it. And poof! It has value.
Dude, please stop spreading misleading information about value creation, made up value definitions and hiddenly legitimate crypto claiming out of thin air that people holding it were not scammed/manipulated/fooled, but acquire crypto because of some "value" they see in it
Go read some Marx, some Smith, fucking hell go read fucking Kropotkin.
They all disagree on what value is and how to identify it in many respects but one: that value is based on perception. Hell for Marx, the idea that value is relative to perception is fundamental to their theory of capitol and the exploitation of surplus labor.
Value its self is made up out of thin air, and is always based on perception. Its just a matter of where you place the boundaries and lens for developing that perception. Is it society which decides where value exists or the individual? You want to perceive crypto as a scam/ pyramid scheme, and to be of little to no, or even god-forbid negative value! That's fine, and your liberty to do so, and not an unreasonable stance. And its a good thing for you to be able to have that worldview.But no one else is obligated to take that stance. If they choose to place value in crypto, or collectible trading cards, or furbies, or porcelain Hummel dolls, or paying for to look at someones feet while wearing nylon panty hose, that's their liberty to do so.
If value exists where can I find it? Can I go to the value tree and pick some value? Can I take some of that value and staple it to some doggy coin or whatever and does it now take on that value? How value does a loaf of bread have to your or I? What about to a family in Gaza right now? What about to a breadmaker? How about their customer? Or a soup kitchen that received that bread as a donation?
You do know that value is a subjective form of perception right?
No, I don't. Who told you this crap? Read this, seems you need this right now -> https://en.prolewiki.org/wiki/Value. You are welcome
Are actually citing the prolewiki unironically? And even then, those sources and thinkers agree with what I just said.
Value is based on based on perception. Its a made up human thing. And made up human things can be useful, just like dollars or stocks and bonds or dividends, or property deeds, or an exchange rate between precious metals and various goods and services.
Value is all made up and purely subjective. And thats fine. Made up fictional things can still have utility.
Super handy without electricity. You and 500 of your best friends just need to sit down and do a little math.
Sure, you might lose connection for a while, but its not like your bitcoin goes away because wherever you are lost electricity. If you make it out alive, your coins are still yours when you can get back on the internet.
Funny sentiment here. People seem really dedicated to hating on something for all the wrong reasons.
Gold?
Its heavy and can be stolen from you.
And crypto can't?
Whats your point? If you are a teenager and your parents gave you their wedding rings as you are off to become a refugee, versus getting given a note with a string of letters and numbers on it, whats more likely to get stolen in a refugee camp?
Like if you think you are dunking on crypto bros and thats what you want to be doing, you should make sure you are actually dunking on them. There is plenty to pick on, plenty of stupidity and criticism to be made fun of around crypto like monkey pictures and the environmental impact, but brah, this ain't it.
Put yourself in this situation. You are in Gaza. Your entire family is getting bombed. You've been putting whatever meager savings you have into crypto for years. You give your kids a note that has the key's they'll need to get into the wallets, and have them pin it inside their jackets, or better yet make them memorize it. Maybe you as a parent die, but your kids make it out. Someday, maybe they get to some where more peaceful, and when they get there, they can access what you were able to put aside for them.
In that way, crypto actually represents an excellent way of dealing with many of the issues one might expect to encounter in a war torn area.
You could do the same thing with basically any online bankaccount?
No, you can't. This is literally the entire premise of crypto.
Firstly you can't just open a bank account in another country if you come from a place like Palestine. It's not that simple, or even potentially legal. And a bank isn't going to break the law on your behalf.
If a bank blows up because another country blows the shit of of yours, there is jack shit you can do. Or if the currency becomes worthless or ceases to exist because your country ceases to exist. Or the government just says "we need to take the money from the banks to find the war efforts, well pay you back when we're done".
It's an interesting example of a very, kind of surprising niche use case where a distributed trust less ledger is actually a better solution.
Business, as in, selling goods and services.