I was asking about who the bitcoin would be the money. Is bitcoin the money of fools? The hopeful?
As for no intrinsic value, I think we’ll have to agree to disagree. Gold and silver only have value because they are shiny metals that captivated our ancestors.
Yes, there are practical uses for the metals, but not commiserate with their spot price. I would content that bitcoin and gold/silver values are both pretty much the same thing. Or maybe diamonds would be a more fitting comparison….
Either way, it’s got value because it’s a desired thing with limited supply - same as gold and silver. It’s more difficult to mine as time goes on - same as gold and silver. Once supply is exhausted, no more can be found - same as gold and silver…and very different from fiat currency.
I was contemplating your comment. I have lots of views about monetary systems. I can't reply to your comment properly because my reply would take too long, so I'll reply with I agree with you.
Yeah…it’s a fascinating topic that could be debated ad nauseum with lots of very valid topics on both sides.
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