4 ms·
How come people's only definition of value of currency is that it can pay taxes? Everything else's value is determined by the market and not the government, so
by mekster 4y ago
How come people's only definition of value of currency is that it can pay taxes?
Everything else's value is determined by the market and not the government, so how does Bitcoin have trouble finding value if the market thinks it has its utility, which is a storage of value without any third party intervention which is its unique capability that people can't seem to figure out after 10+ years of its existence.
- dragontamer 4y agoSeashells and Rai stones have been used as stores of value without any third party intervention. The only thing a currency needs is widespread community coordination. US Government forces this through taxes and bonds/lending, so our system is largely built on top of the dollar and a centralized bank. Other systems can be made however you wish. But solving the coordination problem is the fundamental issue.