Originally Posted by
Supermoto
To understand Bitcoin, you first have to understand what money is. You haven't made it past step one. I'll give you a hint... Scarcity. Everyone gets Bitcoin at the price they deserve, I scoffed it for many years as well.
Thanks for the condescending tone. If scarcity is step one of money than your right I have no idea what money is. And to think I’ve been reading Lyn Alden and other economists for years.
Money is entirely a confidence game that it can have a value for trade. Storage of wealth is different, scarcity can help with that but isn’t the only cornerstone.
I will admit my own bias of distrust towards the tech industry as the main export and product is hype rather than usefulness. I don’t even have a problem with crypto as a value storage. I personally don’t believe in the product enough to trust it.
”trust” by the way is actually step one of any type of money or exchange. See doesn’t that sound condescending?