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But the same may hold true for bitcoin in the future, if they can develop economies that accept it at all stages of production and final use. Yeah, but in the

But the same may hold true for bitcoin in the future, if they can develop economies that accept it at all stages of production and final use. Yeah, but in the case of an economy, you create the value first, then you create the currency to help hold that created value. You do not start a country and say, here is $1 trillion. With Bitcoin, you create $1 trillion, then you say "Go buy things from other countries with it."

bushido 13y ago
> Yeah, but in the case of an economy, you create the value first In any transaction the value can only be determined if the buyer thinks the product or service is valuable enough to pay for. Which is why products and companies fail all the time. > You do not start a country and say, here is $1 trillion. This hasn't been done in a while. But, it has been done before with a few variations. It's never pretty. Usually leads to hyperinflation. It's definitely way beyond the scope of this discussion. Though for a primer you could read up on the history of the Deutsche Mark. > With Bitcoin, you create $1 trillion, then you say "Go buy things from other countries with it." Actually that is excessively exaggerated scenario. At their peak $14.5 billion. In my opinion they were way above their market cap even then. I'd elaborate but that too is out of scope for this conversation. What I can say is $14.5 billion was the speculated value, which is a different beast within itself. Also, I think there are some gaps in your understanding of concepts such as crypto-currencies, proof-of-work and proof-of-stake.