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[–] AinzOown ago 

Crypto still doesn't make sense to me and makes me feel like a dumb nigger. Like how does it get its value anyway? I buy it with fiat money right?

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[–] go1dfish 0 points 3 points (+3|-0) ago 

It gets its value the same way beanie babies do. People demand them.

The difference is that the supply is mathematically limited in a way that cannot be centrally gamed.

Also bitcoin as a network/currency has much more utility than beanie babies, like killing the fed in the long term.

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[–] Cantilever [S] 1 point 0 points (+1|-1) ago 

Except the white paper admits that the entire system depends on the majority of nodes being run by "honest" miners

You think most miners are honest today?

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[–] KoKansei 1 point 1 point (+2|-1) ago  (edited ago)

How does anything get value? By having it bought and sold in the market place.

The whole concept of "intrinsic value" is bunk. The most objective definition of value is purely whatever someone is willing to pay for something.

Bitcoin (Cash) and other cryptos have value because people are willing to exchange a certain amount of other goods or services for them. This is because bitcoin has properties / features as a money that cannot be obtained anywhere else.

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[–] AinzOown 0 points 1 point (+1|-0) ago 

So I don't know how anyone can get into bitcoin if they have no idea what its worth. I also don't know how it originated. It's digital right? Someone made it? Why can't they just give themselves a trillion bitcoins whenever they want?

Like how does it get issued?

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[–] Cantilever [S] 2 points -1 points (+1|-2) ago 

Good luck with your cryptos in a power outage