I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:
" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"
I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
That's only because people believe, that it has a value. BTC is a great archetype of cryptocurrencies, but future are alt coins with real value in some form. I can give you an example. Nebula Network is a decentralized storage cloud with emission mechanism tied to their supply. That means it is not minned, but has a solid backing in computational power and disc space. Due to this fact, its rate of exchange will be rock stable and separated from Bitcoin. It's worth to read some about this project on their site, I thing there will be more coins like this one soon.