@HbdNrx @Outsideness @AnarchoPapist @NRxNorth I really dont understand the intrinsic economic value attitude
@soapjackal (fiat has intrinsic value due to the taxes and use of force behind it. bitcoin doesn't) see http://www.businessinsider.com/bitcoins-have-no-value-2013-4 …
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@HbdNrx "We should also take a moment to praise what an amazing invention fiat currency as we know it is."#shillalert -
@soapjackal fiat has its good and bad. the restriction of tangible backing may be better overall--fiat may overly free gov from restrictions -
@HbdNrx moreover a system like OT could be used by a state if it desired using the states reputation and blockchain technology
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@HbdNrx fiat has value because the government will accept it as a taxable instrument? -
@HbdNrx no that just means the government accepts certain goods as payment and that currently fiat is the one of choice -
@soapjackal if bitcoin were required by a government, then I would regard it as having intrinsic value in the same way as fiat
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@HbdNrx@Outsideness "So Bitcoin has no intrinsic worth from a currency perspective" "no army, no functional use, no law backing it" wrong -
@HbdNrx@Outsideness that is not how it is seen from a currency perspective. The author doesnt cite any of that for a reason.
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