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> that you cannot spend, You can spend it. > does not produce cash flow, Neither commodities nor currencies produce cash flow. People still reasonably invest
by centimeter 6y ago
> that you cannot spend,
You can spend it.
> does not produce cash flow,
Neither commodities nor currencies produce cash flow. People still reasonably invest in both.
> and whose values are determined by other shmucks buying it from previous shmucks.
The value of every other asset in existence is also determined by this process.
- FridgeSeal 6y agoBought any coffees (in person) with the crypto-currency of the week recently?
- hiimtroymclure 6y agohaha yeah I wasn't able to buy my coffee this morning with my gold bar so I threw it away. worthless metal amirite
- FridgeSeal 6y agoAt least gold has intrinsic value and isn’t attempting to be a modern currency...
- centimeter 6y ago> gold has intrinsic value "Intrinsic value" isn't a rational concept and doesn't exist inside any successful economic formalizations. Gold has value because it has useful properties, just like Bitcoin. Gold: Shiny, sort of limited supply, difficult to store and transport Bitcoin: Not shiny, hard-limited supply, easy to store and transport
- s5300 6y agoSo I asked this cute barista if she'd be able to accept a fraction of my TSLA stonks for my coffee
- centimeter 6y agoI don't drink coffee, but I bought a JLC Geophysic last week.
- dcl 6y agoLovely, fitting watch for (crypto) nerd :)