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[QUOTE="Flyer35, post: 7143507, member: 1038655"]
This is a serious question - how does something that has no intrinsic value, and is not backed by anything that has any intrinsic value, go up in value? Most people say - demand and supply. If more people want it - its value goes up. If the available supply decreases in relation to a growing demand, it's value goes up. But again. if it has no actual value to start with, this all seems more like smoke and mirrors than anything else.

It would seem logical that it gets its value from people's desire to spend it when buying goods or services, i.e., to use it as an actual currency. BUT, if the primary goal of legitimate investors is to realize a gain in value, then logically they would not want to spend it. Rather, they would be more inclined to hold onto it. The only people who would have a real desire to spend it would be criminals and people who do not have access to fiat currency.

Don't get me wrong. I'm actually invested in crypto. Why? Because even though it has no actual value, enough people think it does so the price goes up.
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