They function more like speculative assets had a kid with tax evasion that’s got extra chromosomes. Only value they really have is in DNMs…

@tracyspcy
mod
link
fedilink
48M

Some of them are commodities, others are securities.

ThaResearchGuy
creator
link
fedilink
58M

can you explain how one can tell the difference? they all seem speculative to me. not knocking them, they have their uses for sure. Crypto I totally get, I’m just not sure about the currency part

@tracyspcy
mod
link
fedilink
1
edit-2
8M

https://www.investopedia.com/terms/c/commodity.asp https://www.investopedia.com/terms/s/security.asp

https://en.m.wikipedia.org/wiki/Commodity_money

Idk maybe kinda hint at commodity money. Why it is so important ? You can call it crypto tokens for example if you don’t like “currency”

RandomSomeone
link
fedilink
1
edit-2
8M

The speculative aspect of cryptos is because we’re still trying to figure their value out. How much is a Bitcoin? How valuable is it? This happens all the time in markets with new assets.

As for the question, it’s up to everyone. Is this a currency to us? If yes, it will be. If not, it won’t. That’s the point of a cryptocurrency: you’re not forced to use it. The dollar is a currency, but why? Think about it. Is an apple a currency? Why not?

Alixander Court
link
fedilink
1
edit-2
7M

deleted by creator

cryptocurrency
!crypto

    Lemmy community dedicated to cryptocurrency news, technicals, education, memes and so more!

    For Bitcoin only devoted news/discussions visit Bitcoin community

    Smart contracts/dAPPs development questions -> here

    Community Improvement Proposals CIPs:

    Community Knowledge Base:

    Rinkeby ETH faucets : 1 , 2

    Be nice, have fun.

    Community rules:

    • No Spam
    • No ads
    • No aggressive coin promotion or attacks on others
    • No ICOs / IEOs / STOs / token (pre)sales / scam schemes promotion
    • No promotion of trading groups, courses, signal groups, or other trade groups
    • No pumping, shilling, or FUD (fear, uncertainty, doubt)
    • No casinos, giveaways, faucets, begging
    • No price speculation posts
    • No trolling

    General lemmy.ml instance rules applicable here too.

    For a community devoted to cryptography itself, visit c/cryptography

    • 0 users online
    • 1 user / day
    • 3 users / week
    • 19 users / month
    • 109 users / 6 months
    • 1K subscribers
    • 442 Posts
    • 610 Comments
    • Modlog