In order for a thing to be valuable, there must be something to give it value in the first place. That value can be in the form of being extremely useful, solve someone’s problem, convenience, help you save time, etc. There has to be some value proposition for a cryptocurrency (or a product/service) for them to have value.
Now, supporters of Bitcoin argue that what makes Bitcoin valuable is because the price goes up (but strangely, they don’t talk about the price when it drops over 80% from $20k to $3k). If you don’t buy Bitcoin, then they like to insult you with “have fun staying poor”.
Do you know where “price goes up” was often used as the main selling point of something? Ponzi scams. Feel free to read about the modus operandi of ponzi scams. It is usually put in money now because price goes up and you can get back more money later. If someone use this as a “value proposition” to sell you something, don’t walk, run away as fast as you can.
Let me be very clear.
”Have fun staying poor” and insulting others is not a value proposition for your cryptocurrency.
Censorships is not a value proposition for your cryptocurrency - https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43
Propaganda is not a value proposition for your cryptocurrency - https://steemit.com/bitcoin/@adambalm/in-2013-peter-todd-was-paid-off-by-a-government-intelligence-agent-to-create-rbf-create-a-propaganda-video-and-cripple-the-btc and https://np.reddit.com/r/btc/comments/8dd5ij/why_bitcoin_cash_users_reject_the_name_bcash_so/
Threats and harassments are not value propositions for your cryptocurrency - https://np.reddit.com/r/btc/comments/is1130/it_seems_tim_draper_is_being_misled_about_bch_and/g54x63q/
DDOS attacks is not a value proposition for your cryptocurrency - http://qntra.net/2015/09/xt-node-blacklists-fail-to-prevent-ddos-attack/
Doing a bunch of unethical stuff is not a value proposition for your cryptocurrency if you care to read more at https://np.reddit.com/r/btc/comments/hgpjph/the_pitiful_state_of_bitcoin_cash_transactions/fw5qczk/
Right now, the “value” of Bitcoin is being supported by these activities. My question to you is, do you think that is sustainable?
Contrast this to Bitcoin Cash where you can make peer to peer microtransactions or send money instantly and privately to anyone anywhere in the world, almost for free. Bitcoin Cash is solving many different problems that were once impossible to do and those are good value propositions. In other words, whatever Bitcoin can do, Bitcoin Cash can do it 10 times better. Don’t have to believe me, try sending $10 worth of Bitcoin and $10 worth of Bitcoin Cash to yourself and experience it for yourself.
Be smart. Don’t get caught out. Remember, insults and censorships and threats and harassments are not value propositions for a cryptocurrency. It may work for a while, but eventually people became smart and the truth will prevail.
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source https://www.reddit.com/r/btc/comments/kwyylv/what_gives_value_to_a_cryptocurrency_or_anything/
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