Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: It seems to me that crypto currency is the new tulip bulbs. [View all]
GiqueCee
(1,906 posts)48. I think perhaps intrinsic value...
... is ultimately determined by something's actual utility, not necessarily by its artificial scarcity, as in the case of diamonds. Though diamonds can cut stuff. When you desperately need to loosen a screw, a screwdriver is of greater value than a gold nugget.
But it's all relative, I suppose.
BTW, I love your posts. I always learn something new. Thanks.
Edit history
Please sign in to view edit histories.
Recommendations
1 members have recommended this reply (displayed in chronological order):
61 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
They're gonna steal everything they possibly can. That's the only way they know how to be in the world.
Clouds Passing
Dec 2024
#2
burning vast amounts of fossil fjuel to solve some imaginary equation may be a cute trick
rampartd
Dec 2024
#7
There's a reason gold prices are fairly stable, while crypto and NFT fluctuate wildly
William Seger
Dec 2024
#20
Winter's coming...and in Texas, we froze in the dark before Crypto started using mass quantities of our electricity.
surfered
Dec 2024
#14
This is a fatally flawed analogy that has been repeated here on DU for well over a decade.
Celerity
Dec 2024
#22
"You can purchase things outright with bitcoin without converting the bitcoin to any other currency."
Sogo
Dec 2024
#37
The person that accepts bitcoin in exchange for goods or services doesn't have to redeem it in order for the transaction
Celerity
Dec 2024
#43
The number of bitcoins is finite. 21 million, of which around 20 million have already been mined. Of that 20 million,
Celerity
Dec 2024
#46
More non-responsiveness to my original reply that you replied to (my refutation of the OP's flawed analogy).
Celerity
Dec 2024
#60
You are now introducing both labour cost and effort, plus tulips still have inherent non-fungibility.
Celerity
Dec 2024
#41
Right now, Crypto is speculative only. Its NOT a currency unless you're a fool
Callie1979
Dec 2024
#42