GTIfan99
Autocross Champion
Funny of you to bring up scarcity
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Jokes aside, its value is created by a social agreement of value and the utility it provides. Ethereum has an excellent ecosystem of financial tools being built outside the reach of centralized banking. It might not be every ones cup of tea, but that doesn't mean its wrong!
The utility it provides is being untraceable and unreportable. It doesn't even meet all the requirements of a currency at this point.
Again, once it's regulated, and I 100% guarantee it will be, that utility goes away.
Anyone notice you had to answer if you hold a crypto currency and the amount on your taxes this year? Lie about it you just committed tax fraud.
Again, as a miner, what value are you providing in return for this (now) $350 a month/per rig? Just the computing clock cycles, correct? The more people that do it, the less value your contribution and value you add (pyramid), correct? And you're basing your gain on holding the currency as an asset, correct?
How do any of you see this ending well? Do you really think governments and central banks aren't going to regulate and take over cypto currency on their terms? Do you really think all these currencies survive to deliver this gain you're expecting by holding the "currency"?
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