Just had an interesting conversation with the parents tonight.
They're old school and not of the information technology era as are a lot of that generation. I was telling them about my journey into cryptocurrency and the enjoyment of learning about and investing in something new and exciting. As we were chatting, they asked me some pretty deep questions in their quest to understand this new medium more, which I had trouble giving a straight answer too. I thought I'd post them here to see what others have in response to them:
- What is the value of cryptocurrency? ( not what coins are worth but what is the physical value of it or what gives it value ?)
- What are the overall ethics of cryptocurrency? ( Good or Bad , is it a bunch of people just trying to make money with little respect to society and laws or is it genuine innovation with positive intent ?)
- Where/How will cryptocurrency fit into the structure of the world going forward ?
All pretty deep questions and not something that the average crypto investor is generally thinking about when there is gains to be had....
Food for thought :-)
In generally you just need to read more. All answers are already written.
1. Value is always as much buyer and seller value it. Most current crypto coins value is speculative. Tiny bit is real. Specially ICO coins was issued with different reason. More liek a share of a project then an actually money. So you need to ask yourself this question at exact currency.
2. Cryptocurency have no ethic. It is money. Money have no ethic. People that are using money have them. If they dont respect society or laws is ofcourse bad. They will get punished for it sooner or latter. I am sure everyone was already taught this.
3. It is simple they just will. Now since is so new ofcourse dont fit so well. Structure will modify to accept it. Most think that with crypto is end of governments collecting taxes. that si far from true. They will just adopt to collect them where tehy can. And they will be happy doing it since there wil be way more GDP to collect taxes from.