I talked to a person that valuates art. When I heard her talk, I felt that cryptocurrency valuation had a lot in common with it.
Where art is valued on:
- Rarity
- Popularity of artist
- Perceived craftsmanship then
- Perceived craftmanship now
- Emotional elicitation (indirectly, i.e. if we didn’t “like” or “felt” something through art it wouldn’t hold value, probably).
Now cryptocurrencies:
- Rarity
- Popularity
- Innovativeness of idea at the time
- Innovativeness of idea now
- The ideology that a certain coin or cryptocurrencies as a whole represent (e.g. if it didn’t have an anarchistic and innovative bend then it would be worth a lot less)
- To a small extent: its utility (e.g. the unbanked using it)
Obviously I am handwaving and simplifying. My point: they are more similar than you think.
I talked to a person that valuates art. When I heard her talk, I felt that cryptocurrency valuation had a lot in common with it.
Where art is valued on:
- Rarity
- Popularity of artist
- Perceived craftsmanship then
- Perceived craftmanship now
- Emotional elicitation (indirectly, i.e. if we didn’t “like” or “felt” something through art it wouldn’t hold value, probably).
Now cryptocurrencies:
- Rarity
- Popularity
- Innovativeness of idea at the time
- Innovativeness of idea now
- The ideology that a certain coin or cryptocurrencies as a whole represent (e.g. if it didn’t have an anarchistic and innovative bend then it would be worth a lot less)
- To a small extent: its utility (e.g. the unbanked using it)
Obviously I am handwaving and simplifying. My point: they are more similar than you think.