Crypto is hard to grasp because it introduces a new tool, called a token, to aid in the determination of value of any goods or service that we’ve never had before. Say you took up baking bread and you want to sell your freshly baked loaves as a side hustle. How would you set the price of your bread so that you know it would be a good deal for people? You’d probably take a walk down to your local supermarket and note the prices of commercially produced bread, and since it’s homemade, you figure your customers will be delighted to pay a bit of a homemade tax on top. All this work you did to determine the price at which others would buy your loaf is done automatically with the introduction of tokens and decentralized applications that enable people to interact with those tokens. There are mixed feelings around these tokens because we’re just starting to see the extent to which people can assign value to intangible goods such as clout, attention, and community. The price of an asset tied to a token, intangible or otherwise, rests on the delicate balance of supply and demand.
Stablemania, Part II
Stablemania, Part II
Stablemania, Part II
Crypto is hard to grasp because it introduces a new tool, called a token, to aid in the determination of value of any goods or service that we’ve never had before. Say you took up baking bread and you want to sell your freshly baked loaves as a side hustle. How would you set the price of your bread so that you know it would be a good deal for people? You’d probably take a walk down to your local supermarket and note the prices of commercially produced bread, and since it’s homemade, you figure your customers will be delighted to pay a bit of a homemade tax on top. All this work you did to determine the price at which others would buy your loaf is done automatically with the introduction of tokens and decentralized applications that enable people to interact with those tokens. There are mixed feelings around these tokens because we’re just starting to see the extent to which people can assign value to intangible goods such as clout, attention, and community. The price of an asset tied to a token, intangible or otherwise, rests on the delicate balance of supply and demand.