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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Saxophone55
@saxophone55.eth
Only cryptocurrencies that everyone believes have value get a price. Even if I create a coin, no one trusts it, so its value is zero 🤣
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frdysk
@frdysk
yea this part was the easiest to explain, since it's similar to how we value the price of gold
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