Re:Why are so few people on HN into defi & ETH?
by simonblack on Wednesday April 08, 2020 @07:22PM
(#22818261)
For what it's worth, my philosophy is that if you can't see or touch something (in other words, a 'tangible asset') it has no intrinsic value.
Thus, if its value can be instantly changed upwards or downwards, it is potentially worthless, and only relies on herd mentality for its value.
For Americans, a good example is Confederate Currency. When was the last time you could buy a Big Mac with a Confederate currency note? For Zimbabweans, what could you really buy with one of those $100 trillion banknotes ?
Thus, if its value can be instantly changed upwards or downwards, it is potentially worthless, and only relies on herd mentality for its value.
For Americans, a good example is Confederate Currency. When was the last time you could buy a Big Mac with a Confederate currency note? For Zimbabweans, what could you really buy with one of those $100 trillion banknotes ?
https://cdn.cnn.com/cnnnext/dam/assets/160504154606-one-tril...