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by nullc
2234 days ago
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Everything is only scarce "by convention". By convention we don't call also silver "gold" and treat the two metals as equivalent for money-like purposes, though we could-- just like people could by convention choose to adopt some radically incompatible system and call it Bitcoin, but they don't and likely won't. Critically though, no one can force you to adopt a fake bitcoin. True, you wouldn't be very happy being the last holdout on the real thing due to network effects-- but even there you could still hold on if other people were stupid... and that's about any strong and independent as anything used as a money ever could be, because money inherently gets its value from network effect. |
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