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by snovv_crash
1492 days ago
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Actual value can be in anything that has functional usage in the case where the market crashes. It can be cheeseburgers, earrings, threat of force, paying your taxes, whatever is useful in the real world. Current iterations of crypto have a cost to produce, which makes it valuable on the upswing since it is scarce. But there is nothing to catch it on the downswing, unless it is backed by some assets, and then you have to trust the backer, much like you have to trust any government. At least you can vote out a government though. |
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