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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.