Avatar
Wout32
ae6daabafd171d99760a1074a795ab862ac561a56090be8306bebb2e2b0725bf
Bitcoin is hope for a better future!

Web UI of snort is the best for photo´s but it is not user friendly yet because you need to click for showing the photo

#AustrianEconomics #Hayek

#StatelessMoney #BitcoinFixesThis

https://fountain.fm/episode/xpYJVxzxs38g4Ov5GTRn

#Walker

#Agorism #Cypherpunk

nostr:naddr1qq0ky6t5vdhkjm3dv9nk7unfwdkj6arpd34j6arjv9h8xcmjd9c8gq3q7rlc0emedw5xljztfqrmykjaacsx6ujvdas64zznjadrnhhwlavqxpqqqp65w7law4m

#Argentina and money

https://stephanlivera.com/episode/498/

#BlackMarket #GreyMarket #Cbdc #Bitcoin #Geoarbitrage #StephanLivera

Replying to Avatar Wout32

nostr:nevent1qqsws2a7jkc7svweqa4g8h6x0rsqptdgcyhlmgr65wxy9jytx40qwtqpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5qgs2umd2ht73w8vewc9pqa98jk4cv2k9vxjkpy97svrtawew9vrjt0crqsqqqpp85kzy3c

#AdamSmith

The #Water-DiamondParadox is an economic puzzle that questions why the price of water, a vital necessity for life, is generally lower than the price of diamonds, which are considered luxury goods.

This paradox arises due to the concept of value in economics. The value of a good or service is determined not only by its utility but also by its scarcity and demand in the market. Diamonds are relatively scarce compared to water, and their demand is influenced by factors like marketing, social status, and cultural significance, which drives up their price.

On the other hand, water is abundant in many parts of the world and is essential for survival, making it a high-utility item. However, because of its widespread availability, its marginal utility (the additional satisfaction gained from consuming an additional unit) diminishes quickly, leading to a lower market price.

In summary, the paradox highlights how the economic value of goods is not solely based on their utility but also on their scarcity and demand in the market.

nostr:nevent1qqsrtsvdrh25wz40kep73tt09m9kcenumnzs6p8t8e48r62kczvh9ycpz3mhxue69uhkummnw3ezummcw3ezuer9wcpzptnd42a069can9mq5yr55726hp32c4s62cysh6psd04m9c4swfdlqvzqqqqyyuqr72lk