Question to Everyone ~ Is there anything that bound Cryptocurrency to be valid ?
It's the new age, new tech and new currency we have been hearing about. BitCoin, ETH, Steem etc etc. Too many of those with different set of people predicting different future for them.
Some praise those , some hate those and rest of the world still wonder what are those ?
With all the value that these currencies have been claiming, I still am not clear what bound these currency to be true and effective till eternity.
What if someday there is no one to take that or any one of that ?
What if the whole world has moved to Ether and no one wants Bitcoin, or opposite?
What if no one want a Cryptocurrency since United Nations stood against it to avoid terror ?
Is there something that bound Cryptocurrency to be true, valid and acceptable; and who all putting their $$ in it will be able to recover that back?
Please answer in comments !!
It is backed up by the fact that some people are using it, but mainly because people are investing in it. That's all it needs to have value.
Whether that will last, who knows?
Upvoted. Like everything else it is valuable because we say it is. like gold, diamonds, pieces of paper from the government. See my post here: https://steemit.com/bitcoin/@coolhandcanuck/in-defence-of-crypto-currency-and-why-the-market-is-not-in-a-bubble