frdysk
@frdysk
so normie friends asked again, wtf is crypto, how is value created out of thin air, i almost had a meltdown explaining, i realized idk how to articulate it as well as i'd like to think the questions asked are really basic: what is a token? what is a smart contract? what's the difference between bitcoin and ethereum smart contracts? why are there so many type of blockchains? do blockchains use the same type of tech? why do some institutions favor one over others? if we can create our own tokens, why is not everyone doing it? 🤪
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Monteluna
@monteluna
I might have more of a computer sciencecy and physics answer but for me I would only respond that the value is because its just data. You might value a picture of your mother, and I might value a picture of my mother. No one would disagree we value this information, but it is just pure binary digits landing on digital substrates, and we both can subjectively value each item as different. To go further, Google is not valuable because of its real estate. Its valuable because of its data (and data processing capability). As for why blockchains have different values, again, data processing and security of data. Native tokens are just a valuation of future data that could land on a chain. Normie's might not accept that data can have value or should, but I would point them to how in the last 30 years all the top companies transitioned from manufacturing orgs to data orgs, except for Saudi Aramco. The world is digitizing whether people like it or not.
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frdysk
@frdysk
really great analogies, especially pictures of mothers, i wouldn't have thought of that, i'm taking this explanation to them, thank you 🫡
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