> TLDR on bitcoin economics: It's a pyramid-shaped investment scheme backed by the collective delusion that value can created out of nothing by convincing greater fools to buy it after you do.
Nope, lost me there. I'm all for having deep discussions about Bitcoin and the environment and the undeniable fact that Bitcoin mining wastes energy, but not with a person that refuses to understand how value works.
Things have value if and only if there are people that believe it has value. There is no other principle. No "inherent" value, no guarantees, nothing.
Everything is exactly as valuable as the majority of people perceive it to be. Dollars, gold, food, Justin Bieber, freedom, Bitcoin.
You may not agree, but then it's still happening, only without you.
If you don't sell Bitcoin, you're not the supply and you don't have a say.
If you don't buy Bitcoin, you're not the demand and you don't have a say.
Nope, lost me there. I'm all for having deep discussions about Bitcoin and the environment and the undeniable fact that Bitcoin mining wastes energy, but not with a person that refuses to understand how value works.
Things have value if and only if there are people that believe it has value. There is no other principle. No "inherent" value, no guarantees, nothing. Everything is exactly as valuable as the majority of people perceive it to be. Dollars, gold, food, Justin Bieber, freedom, Bitcoin.
You may not agree, but then it's still happening, only without you.
If you don't sell Bitcoin, you're not the supply and you don't have a say. If you don't buy Bitcoin, you're not the demand and you don't have a say.