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[-] LetsGOikz@lemmy.ml 3 points 1 year ago

Going from $20 to $30000 clearly shows it has value

It has increased in price due to artificial scarcity and speculation, not on its merits as a payment system or technology. Even most dedicated crypto traders these days don't even try to pretend that the price is tied to it's underlying value as a system, they are well aware that the price is largely tied to being traded as a speculative asset. Price does not inherently correlate to underlying value, especially since I was never talking about monetary value to begin with and you bringing this up distracts from my point that it provides no additional broad systemic value as a platform.

this post was submitted on 07 Jul 2023
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