The intrinsic value of a commodity is defined by its properties. A commodity is defined by its intrinsic value. Therefore Bitcoin can qualify as a commodity.pic.twitter.com/n7w0uyc1Jo
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Ok, i tried to answer your question. It’s direct tie to energy (however you want to describe it) was my take. FWIW I have an economics degree and have worked in finance and trading for years..
U have have an economics degree and u don't know the definition of fiat?
It doesn't have a direct tie to energy. It has precisely the opposite. an INDIRECT tie to energy via computational difficulty which is algorithmically controlled. There is nothing worldly about bitcoin
Mark, how is a direct tie to computational algorithms (of any difficulty) not also a direct tie to energy? There is no way to compute without energy. It might be one step removed (indirect in this way), but it is still connected.
Dude, what? One-step removed is indirect.
U have an economics degree and u are saying "backed" which implies that u can exchange bitcoin for energy that its backed by.ABSURD!
A little bit of respect and edict goes a long way, Jal. I contributed an answer to your public question. You then decided to ridicule, misrepresent, and then repost a strawman of me. I don’t engage with people of this quality. I’m always interested in learning and discussions.
If ur done calling down my character... U have brought ur economic rank into the dialogue...how can u assert that I can exchange bitcoin into what it is backed by...energy?
All I’ve tried to say is that btc is different from fiat in its “indirect” or “closer” connection to energy. I misused the word “backed”. You got me... This type of arrogance is what turns people off from the entire industry.
My first respond to u was u aren't using correct definitions. U retort u have an economics degree. How can I address anything u say if u are using ur own definitions while implying\asserting they are standard?
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