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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Fiat has little actual "backing". it's just an illusion / momentum / inertia
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We already live in anarchy, it's just wrapped under a thin veneer of b.s.
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I was walking and thoughts just trickled out over time. I agree with you, Murad. The difference between fiat and btc is a matter of scarcity.
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Yes, they become worthless due to mismanagement of the economy -- but what happens if they send those men with guns to stop people from using BTC? Suddenly the bolivar looks appealing again.
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is the Turkish Lira or the Iranial Rial going down because of "mismanagement" or because of sanctions and their own citizens being scared and wanting to dump it ?
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Mismanagement =/= the key thought here, trust in the system is. If I'm in Iran/Turkey/Venezuela, trusting my government is expensive. Bitcoin makes sense in that case.
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