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Joined 2 years ago
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Cake day: June 16th, 2023

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  • Also, other appreciating assets have some use within the wider economy.

    Sure, but that has nothing to do with what I said about them.

    Again, you’ll notice people are spending their capital on things they don’t need all day, rather than than investing it in appreciating assets. Why are they doing that? Why would they buy things they don’t need today, when they could invest in an appreciating asset and be able to afford 10 of those things tomorrow?


  • People would buy more than just bare essentials because people want things. This doesn’t exist in a vacuum – at this very moment, people are using fiat currency to buy all kinds of things they don’t need instead of investing it in some kind of appreciating asset.

    As there’s no intrinsic value to bitcoin

    There’s no intrinsic value to fiat currency. I’m not sure why you keep saying this.


  • null@slrpnk.nettoCyanide & Happiness@discuss.online2017-12-11
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    23 days ago

    It was phrased as a question on purpose, to get you to think about it.

    Your assertion is that no one would spend their Bitcoin on bread, and they’d instead use fiat currency. I’m asking you: why would they take their capital, regardless of what form it’s in, and spend it on bread, if they knew they could hold onto that capital and it would appreciate in value?

    The answer is very obvious: they need to eat.