Replying to Avatar sachin

Austrian answers to some common Bitcoin questions:

'Why buy a house when it makes more sense to buy bitcoin and rent a place?'

Because some people like to live in their own house for their own reasons.

'Why buy anything with an appreciating currency when it will be cheaper in the future?'

Because people want things for survival, sustenance, leisure and comfort. Some things they will want now while others they will want later. Nevertheless, people will want things.

'Why invest in a business when the money you hold will likely outperform it?'

Because someone else might value the money you hold more than you and is willing to take it off your hands in exchange for the promise of paying the difference.

'Why would anyone work or produce anything at all or want to own anything if money just keeps appreciating?'

Because production requires capital, energy, time, resources and land. The more scarce these things are, conflicts occur. To do anything at all, people need to agree upon norms of ownership.

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MAHDOOD 8mo ago

Quite simply really. People want things and they determine how to value those things for themselves.

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