"Regulations are NOT the solution to low-quality food. Bitcoin is." - this guy.
"Regulations are NOT the solution to low-quality food. Bitcoin is." - this guy.
30 comments
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Isn't all money fiat?
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Anything that isn't is just bartering.
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Yes, or backed by actual PMs or other high-value assets. Which actually makes me wonder if those aren't fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
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Beer is a legitimate currency, don't let anyone tell you otherwise
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Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
I can see an argument for considering them fiat. The value of "high-value assets" (e.g. gold) comes from the assumption they'll retain their value even if things get drastic, not from being immediately useful (e.g. alcohol) or necessary to survive (e.g. water).
PMs
Zero clue what the acronym means in this context.
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Precious metals. My point is, artificial scarcity means artificial value.
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Ever since we understood actual scarcity of mineral deposits across Earth, yeah
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30 comments