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Mostly agree. > The consensus for a pure asset like bitcoin comes from marketwide supply and demand. That's where the trouble lies, though, as various entitie
by indigochill 5y ago
Mostly agree.
> The consensus for a pure asset like bitcoin comes from marketwide supply and demand.
That's where the trouble lies, though, as various entities are doing their best to manipulate marketwide supply and demand all the time (advertising/PR/tariffs/sanctions/etc), and generally the more powerful said entity already is, the easier time they have of it. The laws of physics, thankfully, are immune to human manipulation.
By contrast, a transaction backed by the trust between two individuals is harder to manipulate at scale. Laws still apply, but nobody's going to run global ad/PR campaigns about the value of your neighbor Bob's lawn mowing skills. That's between you and Bob.