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 …
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.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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