Reply to post: Re: Easy to understand

Cryptocurrencies to end in tears, says investor wizard Warren Buffett

Doctor Syntax Silver badge

Re: Easy to understand

"1. I have to work (mine) therefore the item should have some value more then the effort I have put in."

I can work at, say, making mud pies. If I do that I've put effort in. But that effort creates no value at all. What would create value would be that someone finds mud pies useful. All the rest of your items could be applied to finding the person to whom they are useful. If no such person is found then they indeed worthless and the entire mud pie economy collapses - rather like the mud pies themselves.

See also - The Emperor's New Clothes.

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