Brock Pierce said #Bitcoin is not a currency, as it's too expensive to actually use in transactions. He said Bitcoin's real use is as a store of value; gold 2.0. But if it's too expensive to transact in, and unlike gold has no other actual uses, what value does it have to store?
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Replying to @PeterSchiff
Gold was historically chosen as money due to its high stock-to-flow ratio. It’s supply only expands at 1.5-1.8% every year. Bitcoin is even more disinflationary. Value of monetary goods is subjective and game-theoretically priced, Bitcoin doesn’t need “use value” nor physicality.
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Replying to @MustStopMurad @PeterSchiff
Nothing has inherent value, everything is subjective anyway.
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Consumables.
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still subjective
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Water?
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Replying to @NelsonMRosario @MustStopMurad and
I mean, I guess if you take the position that vivocentricism is debatable then sure, all consumables are subjective.
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water being required for life doesn’t make its value non-subjective https://en.m.wikipedia.org/wiki/Paradox_of_value …
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