I'm amateur in this like you, but have opinion on it. Banks create money from air called credit. They just type it on your account and here it is. All cryptocurrencies are pretty much the same, but here on Steemit we create content to generate it. Bitcoin is created from nothing, but manipulators can't control it and that is their biggest problem. My question is, why bitcoin(and other) has this huge value? Is it because we just decided that gonna be that value just like that? What makes it so valuable?Don't understand much :)
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As with anyone, the price is dictated by what someone is willing to pay. I think the reason is pretty clear, although this is another form of fiat, it is not saturated yet. The finite amount and value for anonymity is what people value. People want to grow their wealth, not lose 2% a year in a savings account that is at 1% when the inflation rate is 3%. We are looking for honest money. Maybe this is it, maybe it isn't. Maybe it is an elite plot, I have no clue. I think that a lot of people are going to become very rich in the coming months from this. People will pay only what they think something is worth, thats why every shred of news in the crypto world has massive effects on other coins and the overall market cap.
I don't think it's an elite plot. They would like to have control over every transaction. With cryptocurrecies they don't have it. For now 'bubble' situation is in status quo, my opinion because elite see that not to many people is using crypto, but when that number gets bigger they will try to do something with crypto.
I agree, there is no way they don't try to get their cut.