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RE: Where do you see the value of Steem? And where is the value of any token on the network?
STEEM has value because people buy it, and they buy it because it has value. This is the virtous circle of all crypto tokens... if nobody buys, the value is zero. If the value is zero, nobody will buy it
If you get an airdrop where you can't buy them, how would you value the tokens?
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They have value as much as people believe they can find a buyer for them (in present time or in future).
Take it to the extreme and think about gold. Why has gold intrinsic value? Because people believe that others would want to have it. The price is given by how big the wish is get more metal versus the wish get rid of it. You may not trade a dime (like in some communist countries that made gold illegal), and it still keep its value (even earned value on the markets where it was not tradeble). Because the believe is that there will be buyers for it.
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