Crypto - Blockchain - Why do the coins have value? (Question)

IMO, there’s not good reason to buy cryptocurrency. It’s good for speculative trading though.

Otherwise, non-productive assets (think gold) only have value because society broadly all agree it is medium for value … including the government (guys with guns and imprisonment power).

The probability of “everyone” agreeing on a single cryptocurrency as a medium, especially leading governments, I think is slim. I constantly think about a scenario where everyone is forced to use crypto like a Google search engine scenario but I struggle in concluding it will play out. … if metaverse and virtual reality becomes new society, FB/Meta could mint their own crypto. Kind of like tokens to play arcade

As for blockchain, it has its uses as a utility. But it’s not a moat owned by a single company. So, low moat.

To be frank in my opinion, cryptocurrency has snowballed into an outlet for the public to manifest their displeasure with the rising socioeconomic disparities to bypass “the elites”. But in reality, the elites and fund managers are now exploiting in reverse.

/r/ValueInvesting Thread