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Though that's not really the issue here. Obviously they were worth something to the people buying and selling them.


Not really.

If I buy and sell a coin from myself with monopoly money for ever increasing prices - is it really worth anything?

Obviously there are some inflows into crypto. But it's about 0.00001% of the daily volume.


Yeah but that's not the situation. If you have a bitcoin you can sell it to another person for several thousand real US dollars. Even if you hate crypto it has that value to it. I mean re "about 0.00001%" I've bought and sold bitcoin myself and usually for actual money.

True there isn't much intrinsic value to the 0s and 1s making up a bitcoin but there aren't much to the the 0s and 1s making up the US$ or similar in your bank account.


They’re worth something today because people want them today. If they don’t have any real-world yield, that doesn’t make them worth anything tomorrow. As FTT just demonstrated, like so many have before.


Crypto is worth something in that it can be sold at a higher price. USD is worth something in that at the point where it isn't you already have much bigger problems




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