My fav topic to discuss. Intrinsic value. Lots of disagreements. Our definition is radically conservative. Assets w intrinsic value generate free cash flow at rest. Gold = none USD = none; 0 interest paid Btc = none All are spendable. But none retain value well.https://twitter.com/MustStopMurad/status/1038148545143087104 …
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Replying to @jkw_iii
Gold doesn't retain value well? Study gold during the gold standard.
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Replying to @MustStopMurad @jkw_iii
The purpose of money is to be the most liquid good, having a balance of which allows you to decrease your anxiety about the uncertainty and unpredictability of the future. Monetary media are game-theoretically priced, because society needs a common medium of exchange.
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Replying to @MustStopMurad @jkw_iii
Intrinsic value doesn't exist. All value is subjective. Without exception.
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Replying to @MustStopMurad
Cash collected monthly is objective. It has intrinsic value because it can be spent. Gold depreciates by its cost of storage. Currency suffers inflation. Real assets that appreciate in value and generate excess cash are intrinsically valued in a way others are not.
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I am not even going to engage with this
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