Thought I'd share this, let me know what you think...
From what I know, here is a basic formula for the value of a currency: it is the BACKED value, plus the ECONOMIC value, plus MARKET value—and that altogether is the CURRENCY value.
Backed Value (currency backed by real value, such as gold, silver, bronze, shares, etc.) + Economic Value (benefit provided, connected to a real economy) + Market Value (what people are willing to pay) = Currency Value
The question is: Is there such a cryptocurrency out there?
Unfortunately, for most cryptocurrencies on the market (including Bitcoin) the formula is zero BACKED value + zero ECONOMIC value + current rate (that people are willing to pay for) = CURRENCY value.
Your thoughts?
Cheers,
Michael