5 ms·
Duh. Fiat currency (and Bitcoin is fiat) only matters insofar as you have the guns to defend it. Bitcoin has no guns, so there's no intrinsic value. It's bleak
by iammisc 5y ago
Duh. Fiat currency (and Bitcoin is fiat) only matters insofar as you have the guns to defend it. Bitcoin has no guns, so there's no intrinsic value.
It's bleak, but the value of a currency is directly proportional to the number of lives a government is willing to kill to preserve its value.
The united states and Europe are willing to kill lots in their attempts to keep their currency afloat, as they've demonstrated through the centuries. Thus their currency is worth it to whomever values their life.
This is not a statement of how things should be, it's a description of how they are.
- rantwasp 5y agoyes, through the centuries. where was bitcoin during the French Revolution? Nobody killed anybody for bitcoin during the French Revolution!
- iammisc 5y agoThis is a really disingenuous take on what I said. If tomorrow bitcoin were made illegal, it's value would plummet, or those holding it under the radar would have to resort to all kinds of backroom deals and money laundering attempts to hide it. This is because bitcoin cannot defend itself against the strong arm of the state.