read.cash Log in
@Telesfor more from that month

"‘Storing value’ with something cannot be counted as part of its ‘useful value’, because the ability of any substance to ‘store value’ is based on the value that it possesses, and not vice versa. (Vice versa is circular reasoning: You hold gold for the value it has of storing the value it has of storing the value it has of storing… you get the picture.) Gold cannot logically get its usefulness from its value. This can only proceed the other way around. Gold gets its value from its usefulness. Thus, ‘storing value’ with gold is just another way of saying that you will keep it around for its value in future trade. To count the ‘storing’ of that ‘value’ as an additional usage over and above eventually trading for that ‘value’, would be a double counting of the same intended use case." Because BTC has no usefulness, it can't serve as a store of value. https://read.cash/@powellquesne/clash-of-the-slogans-is-bitcoin-digital-gold-or-p2p-cash-7fb07f3e #Bitcoin

3 comments

Log in to join in Reading is open to everyone. Replying needs an account.