Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: emma.lee1890 on November 02, 2018, 03:32:24 PM
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Many skeptics of crypto-currencies don't believe that digital assets have real-life value
All assets, from gold to Bitcoin, ultimately derive their value from the faith and participation of the people that trade them. Skeptics of crypto-currencies often say that these digital assets have no real-life value because you can't hold them in your hand, and they are not "backed by" any material object either. Others who are more friendly with the technology suggest that these currencies derive their value from the energy and resources that miners spend on securing the networks.
However, both of these perspectives overlook the fact that assets don't actually need to be "backed by" anything, aside from the faith and participation of the people who trade them. In fact, this type of shared interest and belief is what ultimately gives all assets their value, from gold to Bitcoin, to real estate.
Stockbroker Peter Schiff has been one of the most vocal critics of Bitcoin and other crypto-currencies over the years. Although Schiff is also an opponent of fiat currencies, he doesn't trust digital assets because he believes that they don't have any "intrinsic value." Speaking in an interview on the Joe Rogan Podcast earlier this year, Schiff said that in order for crypto-currencies to actually have value they would need to represent a material object, like gold.
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Cryptocurrency is a new revolutionary type of currency. Like any other currency or unit of account, they only have value because people think it has value. Some currencies are backed by gold or other precious metals; others are backed by nothing but hot air although have value because people think it has value and use it as a unit of exchange.
Cryptocurrencies were designed as a unit of exchange and as a place to store assets without relying on a central bank.
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I think that yes, because many countries legalize cryptocurrency and so they let other countries know that they need to do that too, I think that cryptocurrency is an incredible diamond that can be processed for a very long time.
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People thought that digital currency have no value because they believe in the physical currency.But now a days their is a revolutionary change after Crypto currency. I think it is really valuable.
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I think that yes, because many countries legalize cryptocurrency and so they let other countries know that they need to do that too, I think that cryptocurrency is an incredible diamond that can be processed for a very long time.
I agree mate. I believe crypto currency will have value. Several countries legalize and accept crypto currency.
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For sure its has value. People are yet to see the potentials of cryptocurrency. Its has to grow gradually
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Cryptocurrency can grow and survive until now because it has a large community, the purpose of crypto is as an online payment without any third party regulating, this will soon happen if the government approves the payment system using crypto
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I think this is very valuable. People think that digital currencies have no value because they believe in the physical currency. But now, their days are revolutionary changes after the Crypto currency