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Comment by klipt | Hacker News Reader

Indeed there are already many forks of bitcoin and alternate cryptocurrencies like monero, ether, etc. It's fascinating how people assign value to an asset created out of nothing that will never show revenue.

Makes you wonder if you could get people to buy shares in a company that promises no revenue but markets itself as "exchange traded gold".

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> It's fascinating how people assign value to an asset created out of nothing that will never show revenue.

The USD is created out of nothing currently and does not show revenue (if anything, the US government only creates massive debts that will have to be paid in the future thru massive taxes hikes, or inflation, or both). The only reason why the USD has any value is because it's the single piece of paper that is authorized as a currency in the US, and that people 'trust' it somehow (especially outside of the US). The day the trust is gone, it will be worth absolutely nothing.

The USD also has the full backing and power of the largest military on the face of the planet. It will last as long as that empire does.

Well as a citizen of the US I also have to pay taxes with it, giving it at least a small amount of utility that other objects do not have. But in general this is true, yes.

There are tons of crypto forks that have essentially no market value. How do you explain that, if anyone can simply create more value out of nothing? It seems clear that this is not what is happening.

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