I struggle with the non-physicality of Bitcoin. In the past, the non-monetary demand for an item used as money had significant effects on its monetary value. Moreover, monetary demand for said item affected its non-monetary value. Bitcoin, like fiat, has no non-monetary use.https://twitter.com/MustStopMurad/status/1029482987338035202 …
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Replying to @cryptorae
If Fiat is worth $90T+ without having any commodity/industrial/use-value, then why can't Bitcoin? We as humans can collectively subjectively and game-theoretically decide what can be our money. Mises even argued that Gold's industrial premium made it less than ideal.
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Replying to @MustStopMurad @cryptorae
This is how I like to think about it. Imagine the Internet is a country. Bitcoin is the Internet's Fiat, but perfectly strict! No capital controls. No taxes. No inflation. A LOTTA Wealth *WILL* FLOW TO THIS "COUNTRY" IN THE COMING YEARS !!!
3:52 PM - 14 Aug 2018
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