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Re:What is an Initial Coin Offering and How Does it Work? by nostrademons on Monday July 03, 2017 @02:20PM (#14690305)
To be fair, regular currency (USD, Euro, etc.) also has zero intrinsic value, and economists like it that way. Currencies that have intrinsic value (gold, copper pennies, cigarettes) tend to get taken out of circulation as they're used for that value, which makes the money supply freeze up when the value of the currency starts rising and people start hoarding it for price appreciation.
Re:What is an Initial Coin Offering and How Does it Work? by ufo on Monday July 03, 2017 @04:59PM (#14691330)
Good point. Although that is another reason why investing in criptocurrencies sounds sketchy: if a currency has a stable and predictable value then it is a lousy form of investment.