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Originally Posted by klinton
few things:
a) gold, diamonds - why they even have value ? because people put trust in them. Just like picasso paintings
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they are goods even used in the industry - so they will always be need.
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b) money currently is not backed by anything and you know about it. its not the time of
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nope - money always represents the value of goods in a market (at least it should and it is not always accurate)
if there is more money than goods the money will lose value if there are more goods than money the value will increase. marketing knowledge first school lesson.
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DM anymore, and not the time before 1970s. its 2017 and current monetary system is going to finish soon...look at the total value of assets in the world and the total amount of debt..now, look at the total value of coins...its just small percentage
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before you compare that you always have to know WHAT MONEY IS.
money is representing a production.
what value would a crypto have if not the value of money?
with what you want to compare it then?
even debts are values (for future productions).
just imagine what is the logic consequence of thousands of cryptos and even thousands coming up. this would mean that every country would only have to print money and all is fine. but if countries do that the value of the money decrease - and THIS is a natural
control.
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c) I agree that its somehow bubble. but more shops accepts cryptocurrencies these days than few years ago. give it some time i guess....
d) yes i agree that black money there is involved for sure. just like in casinos and good old laundromats/ washing machines 
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sure it is a bubble and sure you can make money with it when you are smart enough to understand what happens and when the time comes leave the sinking ship.
SURE is that at the end of the bubble many many white trillions will be in the hands of people who have now many many black trillions - and change them for white trillions.
the lost at the end will be the black money. that will be gone. and the white money have changed from the hands of the believers into the hands of the smarts.
something like a "black money lost" is not existing and it will not hit the economy.
means the one who lost it have now a chance to work and get their white money back.
it is that simple.
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e) dont forget about MATH once again - "good" coins at least need some work to be done to mine them. work + electricity cost..so this is the value + what people put into it
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how can energy costs increase the value when you produce a product with no value with it?
thatīs what i told you IS pure maths and the one who found this way was one with a VERY smart brain.
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f) the idea of "good" coins is to be decentralized and based on math. not like Ripple for example and all these shit coins/ tokens
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i totally agree with that - but this coins will either come from big banks or countries.
and they will be controlled on every transaction.
no country can do anything like that with hard money - thatīs why they like the idea.
what we see now is an inspiration. it is a model of a new house - but you will not be able to live in the model.
reliable cryptos will be nothing else than money on a credit card.
just with MUCH less costs produced and better for the environment.