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A comment on Investor Alert: Public Companies Making ICO-Related Claims. Parent comment

Re:Investor Alert: Public Companies Making ICO-Related Claims by alphaalpha101 on Monday August 28, 2017 @05:30PM (#15120242)
I don't understand how these coins have value. Surely things only have value if they:

1) have some scarcity, and 2) have some useful purpose.

I can see how these coins get scarcity, but what is their useful purpose? What can I do with FacebookKillerCoin or TwitterKillerCoin or EAGamesKillerCoin? If they're just essentially 'gift card currency' and the company will buy them off me in exchange for their products, why use a blockchain in the first place? Just call them loyalty points or whatever.

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Re:Investor Alert: Public Companies Making ICO-Related Claims by pbhjpbhj on Tuesday August 29, 2017 @05:00AM (#15123009)
Monetary value isn't entirely founded on use-value of anything though.

'Coins' have value because a corpus of people has agreed it; you can exchange one for anything of you can convince someone else the coin has a particular value (which might just mean that it works as a stable exchange currency).

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