The legal basis for cryptocurrency’s value matters and you have ignored it.

Your assumption that it has value on the basis of the markets assignment of value means that there is no fundamental basis of value. This makes your argument less authoritative because you overlook the most important precursor for cryptocurrencies, namely the value of a domain name. The internet provides domain names with value the same way that useful decentralized applications provide cryptocurrency with value. We don’t have any useful decentralized applications right now. This means that cryptocurrency has relatively little value compared to a future when we do have these applications. Network effects mean a lot in this context. If you incorporate some more facts into your article then your article will have a lot more authority.

I’d like to help by presenting you some facts which were established by previous legal precedent:

Treatment of Bitcoin Under U.S. Property Law

This is my interpretation / application of these facts to our current state of affairs:

Blockchain 101 — How is the value of cryptocurrency similar to the value of domain names:

I really hope this helps you make your article better.

Written by

Incentives architect for TandaPay

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