Message from @Machinimal

Discord ID: 690392691636174888

NinjaQuick
2020-03-20 02:52:27 UTC  

Yes

NinjaQuick
2020-03-20 02:52:31 UTC  

Monopoly money is fine

NinjaQuick
2020-03-20 02:52:38 UTC  

Because money has the value we give it

NinjaQuick
2020-03-20 02:52:41 UTC  

Gold or otherwise.

NinjaQuick
2020-03-20 02:52:57 UTC  

Changing the backing of a currency doesn't change the fact it has no real value.

Timeward
2020-03-20 02:53:05 UTC  

Gold is seen as valuable because its just rare enough and naturally long-lasting and untarnished

Ayylmao
2020-03-20 02:53:14 UTC  

me when i get isekai'd

https://cdn.discordapp.com/attachments/678531385123667998/690392477537927218/unknown.png

Timeward
2020-03-20 02:53:21 UTC  

also its pretty

KaiserDoom
2020-03-20 02:53:22 UTC  

Also, Burma (myanmar) wants to create a unified asian currency as its the least inflated asian currency by uniting the gold supply of the asian currencies under its own. Sort of like an Asian Equivalent to the Euro but backed by a gold standard.

Taxman
2020-03-20 02:53:27 UTC  

I never understood how bitcoin worked... I never understood what was backing it...

NinjaQuick
2020-03-20 02:53:32 UTC  

Moving the logical problems aroind don't resolve their existence, they just move the problems somewhere else.

KaiserDoom
2020-03-20 02:53:39 UTC  

Bit coin has nothing backing it but autism Tax Man

NinjaQuick
2020-03-20 02:53:41 UTC  

Nothing has to back a currency

Machinimal
2020-03-20 02:53:41 UTC  

bitcoin is self backed

Machinimal
2020-03-20 02:53:51 UTC  

bitcoin is like gold

Timeward
2020-03-20 02:53:54 UTC  

and it crashes like a motherfucker

KaiserDoom
2020-03-20 02:53:55 UTC  

Its got a limited supply and no more will ever be made

KaiserDoom
2020-03-20 02:54:02 UTC  

It crashes from Money Rushes

Machinimal
2020-03-20 02:54:04 UTC  

eventually the price of bitcoin will stabilize

NinjaQuick
2020-03-20 02:54:06 UTC  

In the 19th and 20th century we realized value is something humans give stuff

NinjaQuick
2020-03-20 02:54:14 UTC  

Rather than something inherent to things.

NinjaQuick
2020-03-20 02:54:25 UTC  

Which is why fiat works fine.

KaiserDoom
2020-03-20 02:54:27 UTC  

People sit on bit coin till it reaches peak value, then rapidly rush the trade to convert it to cash like a bank rush during the stock market crash

Machinimal
2020-03-20 02:54:30 UTC  

actually we knew value was given since the fucking greeks

NinjaQuick
2020-03-20 02:54:35 UTC  

Sure fiat is exploitable.

Jokerfaic
2020-03-20 02:54:39 UTC  

fuckers going blah blah value of currency I'm just trying to get a job

Taxman
2020-03-20 02:54:53 UTC  

Joker become a trucker.

Machinimal
2020-03-20 02:54:54 UTC  

we switched to fiat so the FED could game our currency and keep printing money

NinjaQuick
2020-03-20 02:54:55 UTC  

But better it be manipulated by anyone than just manipulated by governments

NinjaQuick
2020-03-20 02:55:05 UTC  

What's to stop a nation from lying about their gold reserves.

NinjaQuick
2020-03-20 02:55:12 UTC  

Nothing.

Machinimal
2020-03-20 02:55:12 UTC  

audits

Ayylmao
2020-03-20 02:55:18 UTC  

POST MEMES YOU AUTISTS

https://cdn.discordapp.com/attachments/678531385123667998/690392998625673246/10230615a_m.png

NinjaQuick
2020-03-20 02:55:21 UTC  

Audits?

Machinimal
2020-03-20 02:55:24 UTC  

it's better to have *more* gold

Machinimal
2020-03-20 02:55:33 UTC  

so you audit there gold

NinjaQuick
2020-03-20 02:55:43 UTC  

Who would be responsible for audits

Machinimal
2020-03-20 02:55:47 UTC  

IE independent people audit their supply

NinjaQuick
2020-03-20 02:55:49 UTC  

A third party?