pull down to refresh

34 sats \ 4 replies \ @freetx 25 Jan \ parent \ on: Where does Eugene Fama think currency gets its value from? econ
MOE or they implode.
Gold has happily been existing despite not being used as a MoE for a few hundred years.....
Anyway, I think the traditional concepts of MoE don't really map well to purely digital products. Kinda like potential vs kinetic energy....purely digital products have the potential to be transferred at any time. Given this high potential to be transferred anywhere at anytime lends to it an innate MoE property that physical objects just dont have.
write
preview
44 sats \ 3 replies \ @Undisciplined 25 Jan
Gold was a medium of exchange within the past century. I also expect it to implode as a money and collapse to its industrial value.
reply
40 sats \ 2 replies \ @SimpleStacker OP 25 Jan
That's interesting. But given gold's preeminent place in human history I wouldn't expect that
reply
30 sats \ 1 reply \ @Undisciplined 25 Jan
Really? You don't expect Bitcoin to absorb the monetary premia of other store-of-value goods?
reply
33 sats \ 0 replies \ @SimpleStacker OP 25 Jan
No, I don't think so. My Pokemon cards aren't going to zero, that's for sure!
reply