Message from @DA GOMMIE JOO

Discord ID: 512076799396806671


2018-11-14 01:27:58 UTC  

Something you don’t believe

2018-11-14 01:28:04 UTC  

the whole idea of currency is that we all agree that it has value

2018-11-14 01:28:13 UTC  

if we didn't, it would be worth nothing

2018-11-14 01:28:22 UTC  

Is the value subjective or not?

2018-11-14 01:28:24 UTC  

https://cdn.discordapp.com/attachments/308950154222895104/512076303143534593/image0.jpg

2018-11-14 01:28:36 UTC  

Because the labor theory of value says value is not subjective

2018-11-14 01:28:39 UTC  

the whole point of currency is that it has value that large numbers of people agree on

2018-11-14 01:28:48 UTC  

it's designed to be as objective as possible

2018-11-14 01:28:49 UTC  

Is value subjective or not?

2018-11-14 01:28:58 UTC  

the intent of currency is to provide objective value

2018-11-14 01:29:05 UTC  

Is value subjective or not?

2018-11-14 01:29:09 UTC  

in some cases

2018-11-14 01:29:15 UTC  

In all cases

2018-11-14 01:29:18 UTC  

https://cdn.discordapp.com/attachments/308950154222895104/512076531137380383/image0.jpg

2018-11-14 01:29:31 UTC  

is a dollar worth less to you than it is to anyone else?

2018-11-14 01:29:40 UTC  

yes

2018-11-14 01:29:56 UTC  

Then it is subjective

2018-11-14 01:29:57 UTC  

if I have a dollar and you have a dollar, can we both buy something that is one dollar?

2018-11-14 01:30:15 UTC  

yes

2018-11-14 01:30:19 UTC  

then that is objective value

2018-11-14 01:30:22 UTC  

you have set a base

2018-11-14 01:30:24 UTC  

a backing

2018-11-14 01:30:30 UTC  

But the value of that object is subjective

2018-11-14 01:30:39 UTC  

that doesn't come into it

2018-11-14 01:30:43 UTC  

yes

2018-11-14 01:30:48 UTC  

you said yourself, you can use your money for whatever you want

2018-11-14 01:30:53 UTC  

You can't argue with someone who thinks private property and personal property is the same @DA GOMMIE JOO

2018-11-14 01:30:56 UTC  

Maybe I don’t want to buy anything with the dollar

2018-11-14 01:31:06 UTC  

Maybe I want to save it and buy something more expensive that does have value to me

2018-11-14 01:31:09 UTC  

that doesn't change the fact that you can do it if you choose

2018-11-14 01:31:23 UTC  

it's not about what you want
it's about what is capable

2018-11-14 01:31:24 UTC  

The thing purchased may not have value to me

2018-11-14 01:31:34 UTC  

With the single dollar

2018-11-14 01:31:34 UTC  

(can't believe I'm about to say this)
facts don't care about your feelings

2018-11-14 01:32:04 UTC  

So now you are getting into utility function

2018-11-14 01:32:15 UTC  

Feels>>>reals poster spotted

2018-11-14 01:32:20 UTC  

Utility doesn’t mean value

2018-11-14 01:32:24 UTC  

the dollar is designed to be a universal indicator of value

2018-11-14 01:32:35 UTC  

the whole point of a dollar is that it has value

2018-11-14 01:32:40 UTC  

all things have a dollar price

2018-11-14 01:32:45 UTC  

$1 million could be worth nothing to me