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by rawtxapp
1941 days ago
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Many people believe it to be the future global reserve currency. Whether you agree with that or not, there's a non-zero probability of that becoming true. And the scarcity means that a central entity can't dilute your holdings as they please, so you can actually save it. Emeralds are not digital, they are not that fungible, you can't easily divide them, no guarantees on supply, etc, etc. Also if you look at it historically, it has been the best performing asset in 10 years out of it's 12 year existence which kind of reinforces people's beliefs. |
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Mayyyybe. I don't think that's why most people are buying it, though. I think it's your last point.
> Also if you look at it historically, it has been the best performing asset in 10 years out of it's 12 year existence which kind of reinforces people's beliefs.
Yeah, this is what gets me. BTC is valuable because BTC is valuable. I don't understand why that loop doesn't unroll, and it breaks my brain a bit. I can't think of anything else that has value _only_ because it has made other people wealthy, and that has so consistently appreciated off of that fact.
The idea that an asset needs _no_ intrinsic value in order to be valuable, or that the intrinsic value may have been defined a long time ago and is now irrelevant to its current value just doesn't compute to me.