What gives cryptocurrencies value?
▻https://hackernoon.com/what-gives-cryptocurrencies-value-d5e8aee1466d?source=rss----3a8144eabfe
Just over a year ago, after #bitcoin had just retraced from it’s all time high, I naïvely bought my first Bitcoin and fell down the rabbit hole. One thing I’ve learned is that cryptocurrencies are not just a technological innovation but potentially have a major economic and political impact on society as well. In this article I’ll discuss some of the lessons on the economics behind cryptocurrencies that I’ve learned over the past year to give other newcomers to the space a better feel for what got people excited in the first place.What is money?The ‘coin’ in Bitcoin and ‘currency’ in #cryptocurrency clearly suggest their intended use case; they’re meant to be a form of money. The first thing that comes to mind is likely the native currency you use to buy groceries. But where do they come from? Who (...)