what I don't understand is how it all started. noone would buy something that has no value (the first mined coins). so who bought the first coins? It might have started as a pump and dump, and once this caused a valorization it caused a chain reaction.
Hahaha you are asking a question that many economists still don't know the answer to. The answer is simple, people place subjective value on things for many reasons including "because it was tuesday". People collect all sorts of things like stamps and old coins that have no direct monetary value today, who wants an old used stamp, well in some cases they are selling for a lot of money. Try to stop thinking of things as televisions and mobile phones, sometimes even a flower can be sold for something. Freedom is priceless
