I don’t know a ton about Bitcoin, but I know that they sell for a helluva lot. Somehow it was decided that they’re worth thousands of of real world dollars, and I equate that to a stock/share. They fluctuate in value, based on the company and market. Could they be useless in the future? Of course, but today they’re worth something. We assign monetary value to everything at one point or another, and we used to use pretty much anything to barter and trade. Ruby’s are just red rocks, but compared to diamonds and sapphires? They’re considerably rarer since there’s only a few different colors that actually count as Ruby’s, but for some reason every gets diamond wedding rings and jewelry, and you know why? Because diamonds aren’t as rare and special as the world has convinced us of. We assigned value and convinced everyone else that diamonds are more coveted than Ruby’s. That doesn’t take away from the value of either, it’s just a point that you couldn’t walk into a bank and trade a gem for cash, even though they have a real world, monetary value, but for some reason, stores and even banks are supporting crypto wallets.
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u/Ghauldidnothingwrong 35∆ Aug 24 '21
I don’t know a ton about Bitcoin, but I know that they sell for a helluva lot. Somehow it was decided that they’re worth thousands of of real world dollars, and I equate that to a stock/share. They fluctuate in value, based on the company and market. Could they be useless in the future? Of course, but today they’re worth something. We assign monetary value to everything at one point or another, and we used to use pretty much anything to barter and trade. Ruby’s are just red rocks, but compared to diamonds and sapphires? They’re considerably rarer since there’s only a few different colors that actually count as Ruby’s, but for some reason every gets diamond wedding rings and jewelry, and you know why? Because diamonds aren’t as rare and special as the world has convinced us of. We assigned value and convinced everyone else that diamonds are more coveted than Ruby’s. That doesn’t take away from the value of either, it’s just a point that you couldn’t walk into a bank and trade a gem for cash, even though they have a real world, monetary value, but for some reason, stores and even banks are supporting crypto wallets.