We'll know things are improving when the "art" market completely implodes.https://twitter.com/business/status/816097761934221312 …
bitcoin is irrational for essentially similar reasons (though art has more intrinsic value). Something isn't a real store of
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value if its only value is in transferring value. Dollars have value because of government force, not because it
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merely transfers value. Other items have intrinsic value.
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Art does have some intrinsic value because people like to collect and look at it (which itself has some irrational component).
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The money laundering value is only a function of that intrinsic value. If it didn't have that intrinsic value, it would have no
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real money laundering value. Diamonds are also useful for money laundering, but their prices are much closer to rational overall
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