Only BTC and ETH are worth something, rest are mostly scam.
Why are those two worth anything though? I get ETH a little bit with the ability for smart contracts. The real value would be building apps on top of it and ETH is the underlying platform.
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BTC is scarce, use by a few nations as currency, transfer of money for illegal transactions, transfer of wealth for billionaires, …
My 5 year old’s scribbling is also scarce. Must be valuable!
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Only if you can hype them!
BTC’s main value is that it was the first major name in crypto. That and it takes thousands of dollars of computing to unlock one. Does that mean it should actually be worth thousands though?
This is determined by the market.
The market can be irrational for a LONG time. History is full of things that had completely irrational valuations for years and then crashed.
Tulips…
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That is not a reason for why it should apply to BTC.
You have to prove the equivalence.
What so different is BTC from fiat currencies? The fact that a few nations have used BTC as currency, the debate should take into account of this (and latest developments) and not from day 1 of BTC. At this point of time, don’t you think BTC should worth something?
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You have to prove the equivalence.
What so different is BTC from fiat currencies? The fact that a few nations have used BTC as currency, the debate should take into account of this (and latest developments) and not from day 1 of BTC.
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Fiat currencies are backed by an implicit guarantee of the federal government to maintain stable purchasing power. The government has a number of levers they can pull through taxation, debt issuance, interest rates etc. to maintain stable value. Failing government = failing currency. Strong government = stable currency. BTC has no such backing or implicit guarantee → arbitrary and wildly fluctuating value.
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That is the point of BTC 
backed by the people (De-Fi), not a government. Is up to you to accept or not. Many people accept, some nations accept.
Sounds kind of like the French Revolution. 
No thanks, I trust people even less than government. Sticking to stocks and RE where value can be estimated by DCF analysis.
The transaction cost alone makes bitcoin a terrible choice as an actual currency. Even bitcoin bulls don’t call it a currency. They call it a store of value. How is a computer solving an algorithm a store of value?
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Some nations use BTC as currency. Is not for me to judge whether why it is feasible/ wise for them to view as such. I only need to know that BTC is used as currency in some nations. My point is simple, because some nations use BTC as currency, some people view BTC as store of value, … then…
Which nations? Are you going to count third world ones that don’t have a stable currency?
Don’t think I like to use first world, third world,… a nation is a nation.
El Salvador
Central African Republic
Um, I wouldn’t consider what those countries do to be trend setting.
I didn’t opine on trend setting. I merely say BTC is worth something.
Btc is a classic case of supply and demand. If demand disappears the limited supply won’t matter. The hype is driven by foreign whales and third world investors than don’t trust their currencies. They will find some other golden calf and Bitcoin will go into the waste bin of history where it belongs.