@HbdNrx but goods you cannot sell and that do not produce cash returns do not have economic value
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Replying to @soapjackal
@soapjackal food has intrinsic value. you can eat it. gold has intrinsic value--it looks pretty, and has industrial applications1 reply 0 retweets 0 likes -
Replying to @soapjackal
@HbdNrx and if you dont understand the value of fungible, distributed, divisible, durable, and impossible to steal private property >>1 reply 0 retweets 1 like -
Replying to @soapjackal
@soapjackal I understand that these are nice properties, but they don't independently provide value.1 reply 0 retweets 0 likes -
Replying to @soapjackal
@soapjackal those properties are desirable or necessary but not sufficient for use as a currency1 reply 0 retweets 0 likes -
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Replying to @soapjackal
@soapjackal you need it to store some value as well. I understand that bitcoin currently has some perceived value, but it won't persist5 replies 0 retweets 1 like -
Replying to @HbdNrx1 reply 0 retweets 0 likes
@soapjackal that's incorrect about gold--it does have a nonzero (and even rather high) intrinsic value
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