Re:Bitcoin Fall Extends to 25% as Fears of Crackdown Linger
by average_person on Saturday January 20, 2018 @05:41AM
(#16192894)
Point taken.
However, another important aspect is that currencies around the wolrd fulfill the same functions whereas when it comes to crypto - each token will represent anything that the creator intended it to be PLUS what the community uses it for (e.g. store of value). And each token will have a different 'design', different functions - from being tokens to enter the platform (e.g. Ethereuem itself) to tokens representing fractual ownership in assets (e.g. Maecenas art tokens or our RAT tokens representing a rat mascot, more about it here: https://medium.com/@katdum/what-did-i-learn-from-tokenizing-...).
So there will be coins that will be fulfilling the descirption of a currency (apart from the government requirement) but there will be only a few ones compared to the vast amount of tokens with different functions.
I always thought of it as "otherwise value-less representation of value." All the currency I can think of fits this definition - including gold! Gold is only really valuable recently for circuits and the like.