Message from @RyeNorth
Discord ID: 496485302060187650
It still has no value in *your* country then
bitcoin is being recognized as legit tech, so rational countries like canada are just taxing it
Germany is very pro as well
Pro now, but not pro always
so, if the ability to get your money out through the tradional system fails, it could lose value but would still function as a peer-to-peer method of transfering value.
'peer to peer method of transfering value'
Where would it's value come from?
Saying it's value comes from 'scarcity' isn't sufficient.
ok
Our Fiat currency's value isn't entirely based on scarcity
its not
It's largely based on confidence.
fiat is based on trust
Right.
in your gov 😂
Right.
Scary as that is.
well
no
would you rather trust open source that anyone can contribute?
It only has transfer value if it has utility. If say, a business offered transactions in bitcoin it was probably because it was backed by exchange to currency
It's not entirely just confidence in the government
open source, anyone can contribute: the code says there's only 21 million
Even if the government vanished overnight, people would still accept USD.
Even if they didn't they would accept gold
I was about to post a whole criticism to tim but now I'm wondering if I want to get into a debate
With anyone rn
Lol
😂
Post it in debate
What a giant waste of time
Go for it
USD represents a share in the valuation of US goods and labor.
That's the trust aspect of it.
yes, and the USD is being printed at the whims of politicians to bail out banks during financial crisis
Right.
Which devalues the currency, you'll note
while you suffer inflation
It's not consequence-less
And it's because the utility of the currency lowers