edilmedeiros on Nostr: Bitcoin entitles you to a set of messages that are practically impossible to modify. ...
Bitcoin entitles you to a set of messages that are practically impossible to modify.
I'm sincerely trying to see where your argument goes.
So, I assume from the previous note that you consider gold to have any kind of intrinsic value. What does owning a troy of gold entitles me to?
Well, nothing but the gold itself. No cash flows, no IOUs, just the physical matter itself.
Value from commodities doesn't come from the commodities themselves, they emerge as consequence of people using them as a medium of exchange.
I understand the point of saying that there's no non-speculative demand for bitcoin today: most people seem to be exchanging it trying to get more fiat back when selling it to other people that are trying to do the same.
But this assume other stuff have some kind of intrinsic value to serve as money. They have not.
I'm sincerely trying to see where your argument goes.
So, I assume from the previous note that you consider gold to have any kind of intrinsic value. What does owning a troy of gold entitles me to?
Well, nothing but the gold itself. No cash flows, no IOUs, just the physical matter itself.
Value from commodities doesn't come from the commodities themselves, they emerge as consequence of people using them as a medium of exchange.
I understand the point of saying that there's no non-speculative demand for bitcoin today: most people seem to be exchanging it trying to get more fiat back when selling it to other people that are trying to do the same.
But this assume other stuff have some kind of intrinsic value to serve as money. They have not.