So we have a company that is making money on a virtual money that is basically mostly based on no real value at all.
I'm wondering where this will go.
I'm wondering where this will go.
So ... just like a bank?
Exchanges are financial service providers. The value they create comes from the offered service.
I believe it's closer to a tautology (opposite of oxymoron, and by "closer" I mean that it doesn't stricly qualify as a tautology, but I believe that's the direction you intended), right? Because money is nothing more than a promise that people believe in. The value of money is entirely dependant upon people's confidence that they will be able to exchange it at some point for real goods.
Does anyone else remember as a kid giving your parents "coupons" that they could redeem for services later ("Two free lawn mowings")? If your parents believed that they could redeem those pieces of paper scribbled by a child, then that was "real" currency.
coins are like collectables. no real value, but limited supply.
where should the unlimited dollar spam go? collectables, stocks and cryptos.
On a long enough timescale all money becomes worthless. The currency of the universe, for instance, is entropy. Eventually the universe will succumb to heat death, at which point there will be no currency left to spend.
Entropy is the only true currency. All other currency is imaginary.