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by r2_pilot 742 days ago
>people trust the value of the system, which is given for example in Bitcoin.

It is in fact not a given(I for one do not trust the value of bitcoin or other cryptos, and I know more people who don't believe crypto has any value than those who do), and your comment is an example of attempting to coerce public opinions and beliefs in such a way as to promote crypto.
2 comments
lfkdev 739 days ago
What you as a single person trust or not doesn't matter in this case. Enough people already decided to "trust" Bitcoin, that why it's worth 70k. I'm not promoting anything, thats just how money works. There is simply no Intrinsic value.
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shakiXBT 742 days ago
I could argue that you're doing the exact same thing to promote gold. Money has close to zero intrisic value, it's just a social construct.

Oh, and please don't try to argue about the value of gold coming from its physical properties

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r2_pilot 742 days ago
>please don't try to argue about the value of gold coming from its physical properties

I understand why you would want to discount from the conversation the very things that make gold valuable; but I don't have to let you move the goalposts. Gold has properties of corrosion resistance (store of value), rarity, and desirable qualities(such as its color and weight, using it in jewelery to attract mates) which allows it to be a medium of exchange, and the fact that it is easily separated from other metals by its low melting point, not to mention its luster is different from other base metals used for currency, makes it easy to use it as a unit of accord for payment of taxes and such. These properties are unmatched by other more common, natural materials-- that humans have long recognized it as unique and rare on Earth merely raises its intrinsic value to human society. Ya can't eat gold as a person, after all.

(lest you think me a gold bug, I don't have any gold and actively recommend that humans not possess it except where they actually need the properties in question. I do the same for fiat currency too. They're all just tools for getting by in life)

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