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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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[–] KoKansei 0 points 2 points (+2|-0) ago 

It is issued by miners locked into a competitive Nash equilibrium. Essentially miners are economically incentivized to issue coins according to a fixed schedule.

You can read about it here: https://www.investopedia.com/tech/how-does-bitcoin-mining-work/

Also refer to the Satoshi whitepaper for a higher-level overview of the system: https://bitco.in/bitcoin.pdf

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

Good luck with your cryptos in a power outage