On 04/11/2022 15:24, Richard Guy Briggs wrote:
Bitcoin or dollars are only valuable because enough people think they
are. Gold does have other uses.
Bitcoin are valuable only because enough people think they are.
Dollars have value because millions of legal contracts require people to
pay or receive them in lieu of goods or services, so their value is
real, backed by the goods and services of our complex society. Dollars
are an IOU from society. When was the last time you were able to barter
a few lines of code for your weekly groceries?
Regarding gold, though it can be misplaced, it cannot be destroyed, at
least not by you or me.
But I think we're drifting further and further away from Twitter /
Mastodon here...
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