This is a bit of a philosophical post on value, don't take it to seriously!!
In prehistoric times man did not need much, it was basically a matter of survival!!
At certain places next to rivers Diamonds may have been lying on the ground between other stones and pebbles, but nobody cared about them, in the life of a Cave Man it was just another stone and worth nothing!! He just worried about survival!!
Then at a stage somebody decided to cut and polish a diamond and diamonds became a girls best friend!!
This is still the same stone that was worthless just a while ago!! Now it was desirable, ladies wanted it and men wanted to give it to ladies as a token of their ever lasting love!! Now a demand was created and the value went up!! (I will not talk about industrial use and market manipulation by diamond cartels)
Lets look at two coins: BTC & Hive. Can BTC do more than Hive? Does it have more value than Hive? If you look at the market price, BTC is more valuable than Hive. If one look at at utility value, I believe Hive is more valuable than BTC as there are more uses for Hive than for BTC.
Why then is BTC more valuable than Hive? It is because people perceive it as more valuable and are willing to buy it at the high price, thus creating a demand for it. If everybody decides to sell and nobody wants to buy, (over supply and no demand) the price of BTC will also drop to almost nothing.
What would BTC's value be if a full blown nuclear World War III erupted? One can debate this from various perspectives, but most probably it will fall to Zero, as computers might stop working, as infrastructure becomes destroyed!! We will return to survival mode, almost like our cave man in the beginning.
A while ago I received a coin ONO, in my Hive-Engine wallet, I still don't know why??
I have now listed this coin on #Hive-Engine for $999 999!! Does this mean I am a millionaire?? Definitely not!! (I do have the $1.00 to add!! LOL)
Now lets say a number of you reading this post decides to buy only a fraction of this worthless ONO* I have listed, say 10 Hive's worth and then go and list your own fraction, that you just bought, at a % higher on the market. If a 1000 or so people does this and the coin was listed on a big exchange, it would show a demand and some trading going on and all the arrows would be green!! I see on the info that this coin has a supply of 70000, thus it would mean a market cap of $70 000 000 000, which will not rank it in the top coins, but this is large.
Now if the Twitter brigade gets to hear about this and starts tweeting a big hype will be created and at the same time a huge number of people would want to invest in this actually worthless coin. (Our coin would be worth more than BTC!!)
Suddenly everybody that has 1 ONO will be a millionaire on paper, but will they really be?? If nobody buys your ONO (If there is no market) you will still be poor like me!! If you sell it you will actually be a millionaire.
Now guys and girls, don't burst my Bubble, go and buy my ONO!! Somebody once said if you can dream it, you can do it!!
Like I said this is just a Philosophical post and definitely no investment advice!! As you know I am an old railway worker with no knowledge of cryptos or investments!!
I hope you enjoyed the post and have a wonderful day!!
