Crypto has value if it takes resources to mine and it has some degree of finiteness to it depending on which one it is and how many people adopt. Computers and electricity aren't free.
An object's value is not determined by the effort that went into it. That's literally a Marxist view of value. An object's value is determined by the perceived utility to the buyer.
^^^Exactly.
TL;DR, entire thread -
Precious metals are archaic relics, you need crypto!
Crypto is a Ponzi scheme, you need precious metals!
You need both precious metals & crypto!
Every... Damn... Time...
Crypto has value if it takes resources to mine and it has some degree of finiteness to it depending on which one it is and how many people adopt. Computers and electricity aren't free.
That's great but not my point.
Every PM or crypto thread anywhere devolves into the exact same 3 positions, nothing new comes out of it.
There are silver/gold backed crypto's if that's what you mean. I don't read about those.
Point #3 -
An object's value is not determined by the effort that went into it. That's literally a Marxist view of value. An object's value is determined by the perceived utility to the buyer.
I could have worded that better.