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> nobody gives a flying fuck about the underlying technology That's the thing about money and value. Value is a social construct. Value is not created by the
by panarky 2y ago
> nobody gives a flying fuck about the underlying technology
That's the thing about money and value.
Value is a social construct.
Value is not created by the underlying technology.
Value comes from collective agreement among human beings.
That's why copying a coin doesn't automatically make the copy valuable.
- FabHK 2y agoSure. The thing is, sometimes social sentiment changes. Fiat tends to remain stable and valuable, because it is carefully managed to that end, and is the legally sanctioned method to extinguish debt and pay taxes. Crypto is nothing but magic beans and a bad database. If its value falls, there's nothing to stop the fall but sentiment.
- onlyrealcuzzo 2y ago> Value comes from collective agreement among human beings. It can also come from fraud, market manipulation, etc