Reminder
#Bitcoin is either worth absolutely nothing
Or
Everything in the world that has been priced in anything other than #Bitcoin terms is worth absolutely nothing and #Bitcoin will absorb all of that monetary premium on its way to proving it’s the only thing worth something.
There is no middle ground here.
And it wouldn't appear to be the first one....
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You could look at a fiat not backed by anything, as creating a void, a confusion, of what money is. So people put a money premium on things that were never meant to be money. Bitcoin fixes this.
Absolutely. And even when fiat was backed by gold it was still issued by and used by governments against their citizens, thus sending false price signals all over to the benefit of those in power. We’ve never had true money imo other than a barter system of people agreeing to exchange their time and labor. Value for value.
Intuitively I believe you are right.
People have been using land as a monetary good since agriculture became a thing and violence became profitable.
Bitcoin significantly reduces the profitability of violence. Gold failed in that regard as it was systematically taken out of peoples hands and reduced from being redeemable for paper.
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