Attempts to derive the value of bitcoin from its exchange-rates with trust-based fiat currency result in volatility:http://www.newsday.com/opinion/oped/maybe-someday-bitcoin-will-grow-up-to-be-a-currency-1.11564175 …
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Replying to @DIA_operative
Noah Smith denies intrinsic worth to BTC, thereby arguing that if central banks ban the currency in their jurisdiction it becomes worthless.
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Replying to @DIA_operative
An off-standard measurement of the value of hard money (true scarcity) is subject to any and all distortion, as it lacks objective criteria.
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Replying to @DIA_operative
...much more telling will be when BTC becomes the standard of value to measure fiat currencies.
1 reply 0 retweets 1 like
Replying to @DIA_operative
@DIA_operative it won't
10:14 PM - 12 Mar 2016
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