There are a limited number of bitcoin, so arguably once they have all been mined if you wanted some to buy something with you would have to pay someone for theirs. So that is a reason to pay more that isn't just a bubble.

Of course that all falls down given the ease that the hypothetical seller could quite easily just accept a different currency that has the same features but is more readily available or price their product accordingly in bitcoin.

g.man wrote:

Their faith alone keeps the prices rising. People lose that faith, it's game over.

See also stock markets and money.

Liveinadive wrote:

There are a limited number of bitcoin, so arguably once they have all been mined if you wanted some to buy something with you would have to pay someone for theirs. So that is a reason to pay more that isn't just a bubble.

Of course that all falls down given the ease that the hypothetical seller could quite easily just accept a different currency that has the same features but is more readily available or.price their product accordingly in bitcoin.

Exactly, you could accept any number of cryptocurrencies with similar utility, so why would any one currency be worth more than another?

GooberTheHat wrote:

There are a limited number of bitcoin, so arguably once they have all been mined if you wanted some to buy something with you would have to pay someone for theirs. So that is a reason to pay more that isn't just a bubble. Of course that all falls down given the ease that the hypothetical seller could quite easily just accept a different currency that has the same features but is more readily available or.price their product accordingly in bitcoin.

Exactly, you could accept any number of cryptocurrencies with similar utility, so why would any one currency be worth more than another?

Transaction speed and expense.

Bitcoin is slow and expensive. 

ie. if i want to send you 10 bitcoin i actually have to send 10.0001 bitcoin because the chain takes a bit and it takes fucking ages to get to you.

Other coins are free and faster.

GooberTheHat wrote:

Yeah, I know. I'm just trying to see if there is something I'm missing, some aspect I haven't seen that give these tokens some inherent characteristics or value that will enable me to predict how their value might change.

Coin and Token are two different things i think.

Did you know that? (genuine question)

Djornson wrote:

GooberTheHat wrote:

Yeah, I know. I'm just trying to see if there is something I'm missing, some aspect I haven't seen that give these tokens some inherent characteristics or value that will enable me to predict how their value might change.

Coin and Token are two different things i think.

Did you know that? (genuine question)

No, the two terms seem to be used interchangeably. What is the difference?

GooberTheHat wrote:

So why are they less valuable?

From Wikipedia:

Economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured relative to units of currency, and the interpretation is therefore "what is the maximum amount of money a specific actor is willing and able to pay for the good or service"?

https://en.wikipedia.org/wiki/Value_(economics)

Yossarian wrote:

GooberTheHat wrote:

So why are they less valuable?

From Wikipedia:

Economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured relative to units of currency, and the interpretation is therefore "what is the maximum amount of money a specific actor is willing and able to pay for the good or service"?

https://en.wikipedia.org/wiki/Value_(economics)

So it provides less benifit but is more valuable?

I'll ask again.

GooberTheHat wrote:

So why are they less valuable?

Yossarian wrote:

It always comes back to people being willing to pay more for one over another. Always.

Yossarian wrote:

Yossarian wrote:

It always comes back to people being willing to pay more for one over another. Always.

Yoss, I understand why the value of a commodity increase when it's in an inflatory bubble. That's not what I'm asking.

My response has nothing to do with inflationary bubbles or prices rising. At all.

Because this is the price that people are willing to pay for petrol.

Because it does exactly the same thing?

@yoss?

Djornson wrote:

GooberTheHat wrote:

Yeah, I know. I'm just trying to see if there is something I'm missing, some aspect I haven't seen that give these tokens some inherent characteristics or value that will enable me to predict how their value might change.

Coin and Token are two different things i think. Did you know that? (genuine question)

No, the two terms seem to be used interchangeably. What is the difference?

I don't really know. I know when i bought ethereum i bought ethereum gas which is used to fuel the blockchain. Tokens in ethereum world are used to create apps. I think correct term is different every application of blockchain technology, when trying to discuss we should probably specify what we are talking about. bitcoin/eth/ripple/stella/monero/monaco etc etc, the list is endless.

So if someone wanted to create an app that utilised the ethereum block chain they would need to obtain an ethereum token?

If that's the case then I can see an inherent value to an ethereum token.

GooberTheHat wrote:

Djornson wrote:

GooberTheHat wrote:

Yeah, I know. I'm just trying to see if there is something I'm missing, some aspect I haven't seen that give these tokens some inherent characteristics or value that will enable me to predict how their value might change.

Coin and Token are two different things i think. Did you know that? (genuine question)

No, the two terms seem to be used interchangeably. What is the difference?

I don't really know. I know when i bought ethereum i bought ethereum gas which is used to fuel the blockchain. Tokens in ethereum world are used to create apps. I think correct term is different every application of blockchain technology, when trying to discuss we should probably specify what we are talking about. bitcoin/eth/ripple/stella/monero/monaco etc etc, the list is endless.

So if someone wanted to create an app that utilised the ethereum block chain they would need to obtain an ethereum token? If that's the case then I can see an inherent value to an ethereum token.

I'm going to read this and get back to you

https://blockgeeks.com/guides/ethereum-token/