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Anytime someone talks about how xx "isn't backed by anything, like gold" I know they haven't actually put in a modicum of intellectual work on the topic. Grant
by shanusmagnus 4y ago
Anytime someone talks about how xx "isn't backed by anything, like gold" I know they haven't actually put in a modicum of intellectual work on the topic. Granted, figuring out that money of every stripe is nothing more than a belief coordination mechanism is kind of a mindfuck. Even so, you'd think smart people would at least begin down the road. But nope.
- gitfan86 4y agoEveryone is well aware that the USD is just a worthless piece of paper. No one is suggesting that owning gold is the path to riches. We are just pointing out that investing is crypto is no different than investing in Enron or Bernie Madoffs funds.
- shanusmagnus 4y agoThe point I'm making, and that parent is making, isn't about gold as a path to riches. It's about where value comes from. Gold is a convenient illustration.