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People also speculate in currencies. You can argue that currency is a kind of stock in the "enterprise" of the sovereign printing that currency. But is there a
by westicle 15y ago
People also speculate in currencies.
You can argue that currency is a kind of stock in the "enterprise" of the sovereign printing that currency. But is there a qualitative difference between that and bitcoin?
- tomkarlo 15y agoCurrency is not a "kind of stock". It is not a claim of ownership in an asset / entity or a claim on a future cash flow stream. It is in fact the opposite of a claim on the printing operation of the issuer, given that the more currency is printed, the less valuable the currency you hold becomes. If nobody will accept a currency, it does not continue to have value, because its value is based upon what someone is willing to trade you for it.