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RE: What Gives A Cryptocurrency Value?
Even with precious metals, it all comes down to perceived value and the agreement that something has value. I can remember when people thought they were set for life because they had finally gotten that extremely rare beanie baby.
Indeed what gives a cryptocurrency value is that it is accepted as payment for some goods or services. Yes you can create you own tokens, but if you can't provide something of value for those tokens they are worthless.
That is true. And precisely what determines the "value" of his new crypto venture? Again, public "perception." And the anwser to the question is another question. Would the ave human being feel more comfortable using Bitcoin or Etereum as their choice of currency (being that they are now established and it is more likely to find someone who will "exchange" goods, services, or another currency for them)...or will they flock to the new and improved and unproven alternative? :-)
Most of my holding are in bitcoin and Etherum. Any other holdings are in specialty crypto like Steem. So in my case the answer is clear 😃
All of the cryptos will likely follow the price of Bitcoin. I realize ETH is now outperforming. But it won't last long. The bitcoin trading computers are now having difficulty in finding new buyers/suckers to make higher price highs on the short term live bitcoin chart.
http://bitcointicker.co