What gives cryptocurrency its value?

Crypto doesn’t have intrinsic value like gold, and it isn’t backed by a government like cash. Here’s where crypto gets its value.
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[@Ramstein83]

What gives something value are two things: 1) Its availability 2) Its use Therefore crypto currency is just a scam.

[@rajesha9842]

Sorry , I still don't understand how crypto has value without any ties to the real world or any legal entity backing. The group of ppl who agreed currency has value are from the government and governments hold tons of forex and gold , therby giving value to their word. Gold/ Silver has real world applications like any rare metal thereby having value. As far as i know, there is no entity which has value without direct (fiat, gold, reits etc) or indirect (stocks, bonds etc) ties to the real world. The only exception seems to be crypto , which I simply don't understand. I am just honestly trying to understand how crypto gets its value.

[@Kenny-Ross]

I'm still asking the same thing.

[@JM-ev3ij]

I believe in gold more but it is manipulated.. crypto can be manipulated too. The value is market cap and how many people buy it causes the price to go up.. if more people use the service the crypto provides they have to pay for those services in the native crypto for transactions causing more of the crypto to be bought up or staked for a period of time etc… but seems like the cost to use the crypto accounts for such little portion of circulating supply compared to “investors” that buy and hold, or stake.. which allows to the crypto to run allowing the crypto company to borrow it like stocks in exchange for a percentage return.. or the amount of traders holding because they believe the company has use case or hype.. the problem is just that.. most of the value comes from traders and can crash .. and does so you constantly have to follow crypto news on the “coin or token”… also, you can look on coin market cap or the native cryptos site to see transaction currently taking place or in total.. some have massive amounts of transactions and the price still gets massively outweighed by traders “investors”.. it probably will be about 2030 until these prices stabilize with crypto that is in full blown real world adoption. I hope that helps.

[@aaronortega5375]

At its base, Cryptocurrency as a "Physical Thing" is a digital currency. These coins can be mined or found by specific computers in databases. It is literally the same as mining for gold or diamonds but in a computer, and again I'm oversimplifying. So don't bite my head off, experts. Back to it, when someone finds a coin, they look at it to see how much its worth. Picture you find a quarter on the ground and pick it up, its worth $0.25, if you pickup a bitcoin, its $46,579.78. These coins are limited though, which adds to its value. If there is a lot, and its public value is low, its not worth much. If there is a small amount of coins available in the database to be found, and its public value is regarded as a valuable coin, it's worth a lot. This is what makes cryptocurrency volatile, and what scares away "Bearish" investors. The value of these coins is based on public perception, and the amount that is available.

[@OMGWUNSIU]

Watch the video “The Greatest Crypto Explanation of ALL TIME (in Under 20 Minutes)” from Altcoin Daily and that will help you a lot. Then look up the channel Bitcoin University. That will help you understand it. It’s basically about FREEDOM from those who would enslave us and Bitcoin will change the world as we know it. It’s that important.

[@roberthutchison8416]

I couldn't agree with you more. I just dont get it what's the difference between bitcoin and a ponzi scheme??

[@DanishAhmad-zq1do]

As far as I understand economics, any currency not backed by a physical asset can be disastrous to economy of a country, bitcoin seems to be a hallucinated currency

[@NickBigsmoke]

its a speculative asset that has no value

[@Kirmo13]

just like any other curreny

[@reinhardheinzwarfelr8215]

​@@Kirmo13 currency at the very least has a real world connection and usage, while crypto has none

[@Kirmo13]

@@reinhardheinzwarfelr8215 Well first of all, crypto is a type of currency so what you're saying doesn't make sense. Instead what I assume you wanted to say is that fiat money (USD, EUR, GBP....etc) has a much higher adoption than crypto, which is true. but also currencies come and go, so nothing is preventing crypto from beeing the next globally-adopted currency. Euros for example didn't exist 25 years ago. Who knows which currency will exist in 50 years!

[@relld05]

​@@reinhardheinzwarfelr8215Have you watched the news in the last 7 months? Lmao

[@miller59753]

The real value of a currency is the stock product behind. Without it the value is just speculation of the imagination.

[@lagunacorona]

Value comes from a list of several things, how useful it is, how durable it is, amongst a list of different other specific needed perameters....gold has been knows to not oxodize so easiliy in the elements unlike other metals, for that and other properties it has such as for electrical technological uses yet it is so limited , its pretty versatile too and of course its distinct color besides copper...dare I say if copper didint tarnish like gold did ...I guarantee it would probably be worth more despite its higher abundance

[@Lieeza007]

But a little off topic, how can you withdraw USDT from an OKX wallet to a card if there are only these words: head isolate sound end kit industry choice festival limit stable dolphin derive. There is nothing else.

[@seer775]

Its functionally equivalent to fiat. However, unlike fiat, the ledgers are public.

[@Imakesomething-eg5bw]

That's make sense now why many of creators promote to buy Bitcoin

[@kalikeliihoomalu1661]

So it’s all just based on money. Crypto only has applied value. Applied by people and the value they apply to it is the dollar. But that can’t be, because no one can know how much a bitcoin will be worth in the future it. The value of crypto cannot be applied by people. Why does the value go up and down then? The core of the currency is still based in real world money. It doesn’t really seem like it would counter inflation cuz it would just be worth more dollars. The dollars themselves are the issue because those are worth less. having more imaginary money counters inflation how? Who decides that bitcoin is so expensive?

[@Username23469]

No comments

[@amitgreat975]

Crypto can't be print

[@Hustler4ever1774]

Ponzi

[@funfunyo7523]

Its nothing like gold and this never answers anything What gives crypto value Money if fiat but its traded and backed by governments and banks

[@OMGWUNSIU]

the music is DISTRACTING, UNNECESSARY and ruins the video. I couldn’t watch it.