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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Much current monetary theory is just made the fuck up, so I don't see how this is even remotely relevant.
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All cryptocurrencies are inherently worthless and will rather soon go to their true value of zero
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“Inherent value” is irrelevant. You’ve forgotten your Menger and your Moldbug. https://www.unqualified-reservations.org/2013/04/bitcoin-is-money-bitcoin-is-bubble/ …
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He's wrong, sorry.
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Moldbug was wrong (so far) about his prediction that USG would kill Bitcoin, but his (and Menger’s) monetary theory is sound. The subject is a keen interest of mine, so I would be happy to answer any questions you might have about it.
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BTW, I talked with MM last year about his failed prediction. He said he’d underestimated the extent to which USG bureaucrats would leave Bitcoin alone out of fear that they’d be blamed for killing the Next Big Thing. In other words: CYA saved BTC from USG.
End of conversation
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