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> A currency has 3 objective functions: medium of exchange, unit of account and store of value. It objectively fails the third test. No. Value is subjective. I
by erulabs 8y ago
> A currency has 3 objective functions: medium of exchange, unit of account and store of value. It objectively fails the third test.
No. Value is subjective. I understand what you're saying, and for what ever its worth, I promise I don't sell old folks on crypto funds.
> Fine it's an investment, it's a bad one.
Good - we're on the same page. You have a value judgement. Don't pretend to be an authority on the subject beyond your _well heard_ opinion.
> The idea that you're buying into blockchain technology's future by owning bitcoin is like saying you're buying pets.com stock because you want to invest in TCP/IP
Yes, exactly. Money and industry turn out to be closely linked.