Do these cryptocurrencies have any real value or are they all memes driven by pure speculation?

>completely missed the point that gold is just a shiny rock who some person in the past defined it as valuable

I see you come from normieland, let me give you a warm welcome. (y)

you can do that with goldmoney

en.wikipedia.org/wiki/GoldMoney

but its literally not just a shiny rock and has real intrinsic value due to its physical properties

Sure, we can gold plate things. Like hardware. :^)

NO GOLD = NO CRYPTOCURRENCIES

Prove to me otherwise.

Gold inside = smartphones, desktops, laptops, tablets, servers, mining farms........

Without GOLD, cryptocurrency vaporware goes up in even more smoke.

THE END

therefore it is not entirely driven by speculation

>satellite
>needs to be stored in a rocket, shot up through the atmosphere and survive being ejected from rocket, and float around for 100 years

>wires attached with tape

Typical engineer work.

Engineers shouldn't be allowed to be near 5 meters of anything they design, let the techinicians do the work.

KEK wills it

IT BEGINS…. Idaho & Arizona Pass Bills To Remove “Capital Gains Taxes” On Gold & Silver

investmentwatchblog.com/it-begins-idaho-arizona-pass-bills-to-remove-capital-gains-taxes-on-gold-silver/

You basically dont understand that money is fundamentally information.

It can now be programmed and sent across the internet person to person at the speed of light. That is why cryptocurrencies are valuable.

Welcome to complex philosophical concepts nocoiner. Now go and make a hole in the sea

actually the electricity in a wire doesn't move near the speed of light due to the resistance of the wire

dumb negro

Do you really believe that without gold there would exist no computers? How delusional can you be? Something else would have been invented. We could be mining with pneumatic processors today.

You didnt get his point dunce

So you think undersea cables are still made of copper not glass fibre? You stupid little cunt

>You basically dont understand that money is fundamentally information.
monopoly is the same as US currnecy because they're both fundamentally information :^)

fucking retard, neck yourself you NEET faggot

most mainland data wiring is still copper.

small pecker loser :^)

You basically proved my point with your monopoly money analogy.

There is nothing much physically different between $20 and $20 monopoly money.

yes you're right there is no difference. they are both the same. why don't you go ahead and purchase rent and food with your monopoly money?

i used "speed of light" as a figure of speech to mean functionally instantaneous. You cretinous little autist

>do these cryptocurrencies have any real value
nope. no fundamentals, no usecases, no utility, no USPs.

>or are they all memes driven by pure speculation?
yup.

it's good enough to make a quick buck with them, but everyone should be aware of what they're buying - a string of numbers with no inherent value.

You are stupid. That is not an argument against cryptocuurency. A bitcoin is impossible to forge. A $100 bill is quite commonly faked.

Nothing has "inherent value" you moronic pleb.

do you have a better suggestion?
>duct tape
>easy to replace
>will never hurt wires

>A bitcoin is impossible to forge.
well, you can't have it both ways.

either we're talking perfect conditions, then bills can't be forged 100% expert-proof, just like the math on BTC is solid.

or we're looking at the flawed ways humans handle money in everyday life. then forged bills slip through, but BTC is also vulnerable to double spending and 51% attacks.

Except with stocks you buy company equity. Buying memecoins is just currency trading. If you're techno fetish future comes the banks will develop their own cryptocurrencies and the speculative bubble will pop. OP is correct, it's all one massive speculative meme. That being said make your gainz while it's still a niche, just don't romanticize becoming a millionaire by making a few clicks in your mom's basement

y so many buttmad pre-teens on Veeky Forums

Would you be happy if some electrician just bolted the wires all over your wall and drilled holes everywhere just because its easier, cheaper and easier to replace?

Does the canadian dollar have any value?

nice argument there, buddy. denial pepperd with ad hominem. yup, you've got me convinced.

of course there's stuff with inherent value. food is inherently valuable to humans. shelter, clothing, medicine, work, time, etc.

If you ask this, you clearly do not understand where value comes. If you don't understand that, you don't understand economics.

>A $100 bill is quite commonly faked.
this is absolutely not true, but you're right they're easier to fake than bitcoins.

but tell me why can't the federal reserve and governments adopt the blockchain technology in the future anyway? the fed is already interested in DLT

they already have/are. But you *cannot* fake a bitcoin. If you could, there would be FAR less alt/shitcoins

respond to this guy

>let me know when your meme currency is used to take people to space
Do you know where you are?

so what's the point of bitcoin and all these alts if the only thing that is useful with it is the blockchain technology behind it?

I have some money in crypto but I admit it's all speculation nothing more. Just look at the cypto general threads on here. It's all memes -- hurr durr we're going to the moon instead of actual real analysis.

Nocoiner is the Veeky Forums equivalent of the NEET meme on /r9k/.

But bills can be printed willy nilly. Bitcoins can't be. It's that information which means a bitcoin is currently 960 times more valuable than a us dollar

Money is a spook. It doesnt exist outside of the human mind. Just like maths

,
be that as it may, that was not your original argument.
>A bitcoin is impossible to forge. A $100 bill is quite commonly faked.
a newly issued bill is neither a fake nor a forgery, since printing new money is a fundamental feature of the fiat system. you're moving the goal posts.

money is just an idea, it holds because people believe in it. otherwise its just pieces of paper. when world war 3 starts, you will realise you should have stacked food and weaponry instead

No, it holds because powerful nation states only accept taxes in that currency, and enforce taxation with the use of force.

Cryptocoins are memes with no purchasing power. (Please look up the meaning of purchasing before you reply that you once bought a sandwich with bitcoin.)

youtube.com/watch?v=OG3WMaWwJig

>Does an infinite resource have any real value
Idk OP you tell me.

ITT: Retards that don't know about crypto currencies rusting over time

>when world war 3 starts, you will realise you should have stacked food and weaponry instead
And what, pray tell, would you use to acquire that food and weaponry? Unless you happen to be both a farmer, food preservative manufacturer, and weapon manufacturer at the same time.

Definitely not crypto. I can't imagine a global currency working too well when nation states start blocking internet access to each other.

nuke the nation couple times and females start selling themselves for bread and shelter.
taxes is just an idea, it holds because people believe in it. scare the people enough to start doubting money's worth and see how long it takes till money loses power.

though you are right about goverments basically being terrorists - as soon as you are born into the world (which you didn't choose), a bunch of people come to you and tell you how to live and use violence to make sure you comply. if you don't comply and challenge goverment instead - they call you a terrorist. it takes a thief to catch one

you can use anything as long as other side accepts the trade. money only works in cultured peaceful society, its merely an idea holding on imagination. a bunch of ones and zeros or colored fancy paper - it means nothing when i smash your head with baseball bet in dark alley.

Wrong
It just saves exponential amounts of time/resources

Says the retard who thinks light speed through a medium is c

Correct, and very long running idea that many people forgot was an idea to begin with. Those who understand and know that, will know that money is only useful as an instrument for measuring value (which will always exist).

So, money as an agreed upon instrument as the de facto measure of value really clears up a lot of future arguments that came from Bartering.

Cryptocurrency, as a speculative investment is banking on the ultimate adoption of the blockchain. Which blockchain gets adopted is a matter of value for its ability to transmit value securely.

They are all memes driven by pure speculation. If you want to gamble, by all means go for it, but you should not consider yourself an investor

Cryptocurrency also has intrinsic value: the ability to run applications, store data in a decentralized way, and smart contracts. There are also ways which haven't been utilized or discovered yet. Bitcoins current tech is weak, but when you research other coins and cryptocurrency in general, you begin to see intrinsic value.

Crytpos are a currency though, not stocks.. Fiat has no value either, it simply has value because we give it value. It's shocking to see so many on Veeky Forums equating crypto to stocks.

A currency is simply a way of exchanging goods in an efficient manner, no currency has any intrinsic value, a dollar doesn't produce revenue, it doesn't feed you, you can't build a house out of dollars, the same applies for cryptos. this is econ 101..
And fiat has an UNLIMITED supply, every year as the fed pumps more and more dollars into the system you become poorer. Which is why a reversion to the gold standard is needed to free the world from the economic prison that is fiat. And the modern version of the gold standard is.... you guessed it CRYPTO (with the exception of ETH).

not OP, but the book Basics of Economics is a good start to understand how the economy works?

>what is vague bullshit: the post

Do you know what's going to function a lot more poorly after a few nukes? Computers. Good luck paying with Bitcoin when what is effectively an EMP knocks out most electronics.

Not if you have the right computer

Enjoy playing with Bitcoin by yourself on your catheter ray tube gimmick. I'll be resorting to cannibalism and living like a nuked mutant god.

Habbening lads

this.

WOW

The technology behind crytocurrencies has real value, but cryptocurrencies themselves are pure speculation.

Barrier to entry and utility. Different coins for different purposes

>cryptos are speculative memes for NEETs
this

>mad he can't make money off memes

Ethereum is different though.

Once they developed the currency far enough, you can have companies buy computing time for ETH.

So ETH = CPU / GPU
Which actually puts a VERY useful value behind ETH. If you have 50 ETH now, which is work 100 CPU-2017 and in 2026 it would be like 250 CPU-2017, since computation power increases but ETH will stay stable

think about it, and it's backed by kikecrosoft and intel-kikes

That doesn't mean shit until they provide a service.

Except that the price isn't fixed. The gas price is set per transaction. The price of eth should be a function of electricity and mining costs. Instead it's high due to speculation.

The speculation leads to hoarding, which causes the market to not develop or stabilize due to missing and inconsistent supply. This causes deflation.

On the other hand, you have a yearly fixed amount released ad infinitum. This causes inflation.

There is no way that the fixed amount released will perfectly balance the speculative hoarding. It will either tend to extreme inflation or extreme deflation. You're all gambling on extreme deflation.

Since it is high due to speculation you're massively overpaying for 2017 compute power. So it will likely be less in the future if it becomes more widely used.

bunch of retarded nocoiners in this thread trying to wrap their tiny minds around the concept of money. don't worry guys we got this covered go back to potato farming or whatever it is you're good at.

Go read about Modern Monetary Theory and understand why taxation and confidence are necessary for a currency to have value. All crypto has is speculation and hoarding. Enjoy your deflationary spiral.

Why read when you can bank on memes?

It's one thing to try and make money on this shit, it's another thing to bank your well-being on the hope that governments are going to roll over and give up the main form of power they have to crypto currencies.

Some of us lives in the real world, but it isn't the people sucking the kool-aid down in here.

I made a meme to help them.

youtube.com/watch?v=OG3WMaWwJig