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Re:Ethereum: A Store of Value with Cash Flow [pdf] by tim333 on Wednesday April 21, 2021 @05:38AM (#26887304)
Well - money laundering, drug dealing, ICO scams...

On the positive side I think there's something like creating wealth through the power of imagination.

I mean 20 years ago there were no crypto currencies. Now on paper they are worth $2trn ($260 a head for the world's population). And lots of people can feel wealthy because they have $100k in bitcoin of whatever. And it can retain actual value in the sense that you can swap it for US$ as long as everyone doesn't sell at the same time. And where has the value come from - basically human imagination thinking the 0s and 1s are worth something. Which may be more sustainable than it sounds. Where does the value of fiat currency come from or the value of a painting in excess of the cost of making a copy of it?

I foresee a future where everyone is a crypto millionaire through the power of imagination. (Which would imply a 10000x form here?!)

Re:Ethereum: A Store of Value with Cash Flow [pdf] by mratsim on Wednesday April 21, 2021 @10:15AM (#26889982)
> I mean 20 years ago there were no crypto currencies.

Actually wrong.

- David Chaum, 1982, eCash

- Adam Back, 1997, HashCash

- Wei Dai, 1998, b-money

- Nick Szabo, 1998, BitGold

Re:Ethereum: A Store of Value with Cash Flow [pdf] by tim333 on Wednesday April 21, 2021 @01:00PM (#26892284)
Ah, yeah. Right you are. I was thinking distirbuted ones.
Re:Ethereum: A Store of Value with Cash Flow [pdf] by jdmoreira on Wednesday April 21, 2021 @06:44AM (#26887753)
> Where does the value of fiat currency come from

From the taxman knocking at your door. They have prisons you know and some really well armed goons.

They also control the education system and pretty much everything else and are capable of stealing your children from you and send them to die in some far away shore.

They create all kinds of myths and bullshit and we take them for granted... like national identities and currencies.

Pretty powerful system.

Re:Ethereum: A Store of Value with Cash Flow [pdf] by jdmoreira on Wednesday April 21, 2021 @06:49AM (#26887796)
I would even argue the only reason crypto has any value is because people think they are sticking it to the man or hiding away from them. But that’s just a fantasy of course.
Re:Ethereum: A Store of Value with Cash Flow [pdf] by CryptoPunk on Wednesday April 21, 2021 @01:36PM (#26892844)
Governments get all of their power from the people that constitute them. When people find a way to organize themselves that is a million times more efficient, then they will be superseded.