Cryptocurrencies are basically stocks in nothing.

titzer · on April 30, 2021

Until you can use them for payments writ large, they aren't even currencies, just speculation bubbles.

pradn · on April 30, 2021

Proof-of-work crypto prices are based on 1) mind-share 2) sentiment/momentum 3) institutional backing (hedge funds and companies legitimizing them) 4) price of electricity 5) cost per hash 6) hardware supply 7) legality/illegality/regulation. Proof-of-stake currencies only lack #5, cost per hash. What I'm trying to say is that there's components to the price that can drive purchase/sell decisions.

thehappypm · on May 3, 2021

No, proof-of-work crypto prices are based on supply and demand. Simple as that.

pradn · on May 4, 2021

Yes, but supply and demand can be further broken down into these and other factors.

reilly3000 · on April 30, 2021

Cryptocurrencies are currencies whose value lies in their technology and adoption. Neither the tech nor its users are 'nothing', they are in fact quite tangible.