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Intrinsic or not isn't really the question - it's not really a binary. I'd rather have bitcoin than Zimbabwe's fiat currency. Taxation definitely gives legiti
by nickpinkston 12y ago
Intrinsic or not isn't really the question - it's not really a binary.
I'd rather have bitcoin than Zimbabwe's fiat currency.
Taxation definitely gives legitimacy, but so does the ability to pay for things anonymously. If enough people are willing to take a currency, than it gain value - period. The gov't wanting it in taxes is just a really big provider of liquidity providing those network effects.
- berns 12y agoIt's not a question of legitimacy, isn't about demand. Currency is a token. You need tokens to play the game. The difference with taxes is that you don't choose to participate. You must play, so there is always demand for tokens.
- nickpinkston 12y agoYea, but demand isn't all created equal right? I'm trying to capture more than raw demand - unless we're just defining terms differently (which I suspect)