Comments by "" (@titteryenot4524) on "Crypto market value drops two thirds in six months - BBC News" video.

Currencies and money are based on hopes and faith, too. We all agree that intrinsically worthless bits of paper and coins carry value; without that agreement, the system would instantly collapse.
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@루루97 Social agreement is kinda the same thing as faith; as long as I trust (ie have faith in) the system and trust others to trust the system, it works. If we all agreed tomorrow not to trust it, it would fall apart.
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@루루97 Money is created by a kind of a perpetual interaction between real, tangible things, our desire for them, and our abstract faith in what has value. Money is valuable because we want it, but we want it only because it can get us a desired product or service. The money in itself is actually worthless.
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@루루97 👍
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