That isn't quite true. The value is intangible, but not zero. What value does a stable currency unable to be monkeyed with by a banking cartel or state-cum-Mafia have to you? I think the answer is inherent in your first tweet in this thread.
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Replying to @The_Petrichory
Of course people can give anything value if they believe it has value, but why do people believe crypto has nonzero value? All answers to that question are circular.
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Replying to @HbdNrx
Not to get too Socratic, but tons of things have value upon which no monetary proxy seems to suffice. Beauty? Justice? One absolutely pays for these things in one way or another, but the far-reaching dividends of a functioning justice system are inscrutable and incalculable.
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Replying to @The_Petrichory
Good art is beautiful and I can buy it to put in my house. Is a bitcoin beautiful? Justice? Well, contracts and rights can be bought and sold. Is bitcoin a right to anything?
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Replying to @HbdNrx
A right to be free of hyperinflation and debasement. To be free of central banking. To be free of the back-door taxation that the mint *actually* represents to people. That is a thing of beauty, my friend. Beauty pure and mathematical.
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Replying to @The_Petrichory @HbdNrx
I'm not saying bitcoin itself is the stone to slay Goliath. But it might be. Whether it wins or something like it remains to be seen. But I am quite certain some form of crypto will, eventually.
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Replying to @The_Petrichory
I'm not sure what other forms crypto might take, which is why I said unbacked crypto. If the US government started taking taxes in crypto I'd call that a kind of backing, but why would they allow everyone to print more money by just running their computer?
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Replying to @HbdNrx
Who said anything about "allow"? And there are limits to how much more can be mined, limits built into the system. Some economists wring their hands at a deflationary currency. Incidentally they're the same ones most in favor of the status quo. Funny, that.
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Replying to @The_Petrichory
So why accept it for taxes if you're not controlling the printing and there's no inherent value?
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Replying to @HbdNrx
The point is not to convince anyone in any state to accept crypto. It is to leave them no other choice.
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