Message from @DA GOMMIE JOO
Discord ID: 512076799396806671
Something you don’t believe
the whole idea of currency is that we all agree that it has value
if we didn't, it would be worth nothing
Is the value subjective or not?
Because the labor theory of value says value is not subjective
the whole point of currency is that it has value that large numbers of people agree on
it's designed to be as objective as possible
Is value subjective or not?
the intent of currency is to provide objective value
Is value subjective or not?
in some cases
In all cases
is a dollar worth less to you than it is to anyone else?
yes
Then it is subjective
if I have a dollar and you have a dollar, can we both buy something that is one dollar?
yes
then that is objective value
a backing
But the value of that object is subjective
that doesn't come into it
yes
you said yourself, you can use your money for whatever you want
You can't argue with someone who thinks private property and personal property is the same @DA GOMMIE JOO
Maybe I don’t want to buy anything with the dollar
Maybe I want to save it and buy something more expensive that does have value to me
that doesn't change the fact that you can do it if you choose
it's not about what you want
it's about what is capable
The thing purchased may not have value to me
With the single dollar
(can't believe I'm about to say this)
facts don't care about your feelings
So now you are getting into utility function
Feels>>>reals poster spotted
Utility doesn’t mean value
the dollar is designed to be a universal indicator of value
the whole point of a dollar is that it has value
all things have a dollar price
$1 million could be worth nothing to me