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I causally dropped bitcoin into a conversation with another family at my kid’s school during pickup time. They started asking questions about what give it value, etc (in a very genuine way). I discussed energy to product, etc. I then asked - what gives the dollar value? They said, well it’s backed by gold and silver. I wonder how many people don’t understand what happened in 1971?

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captain ☦️ 2y ago

https://github.com/libbitcoin/libbitcoin-system/wiki/Energy-Store-Fallacy

https://en.m.wikipedia.org/wiki/Subjective_theory_of_value

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