by Mohit Mamoria
— 1 hour ago
in Contributors Nine years ago, when “Satoshi Nakamoto” released the research paper titled, “Bitcoin,” she/he/they laid the foundation for the cryptocurrency craze we’re experiencing today. Despite the spike in popularity of cryptocurrencies, not everybody is fond of them.
People call cryptocurrencies with all sort of names, like “speculative bubble,” “ponzi schemes,” “get-rich-quick schemes,” and sometimes simply “fraud.” It’s such a simple question that is extremely difficult to answer. In order to get closer to the answer, the best way is to ask a few more questions.
Sounds counter-intuitive, but trust me, it will get us closer to the truth: The value of something is the price that the buyer is willing to pay and the seller is willing to accept. At the end of the day, it’s a story, dream, or vision that one buys and sells.
The story behind the $200M painting is that of Picasso. The story behind the $500 pen is that of making you one among the elite.
The story behind gold and diamonds is that of scarcity. It’s always the story that gets baked into the value of something. Read more from thenextweb.com…
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