this post was submitted on 07 Dec 2023
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You just described all economies
Lmao yeah me trading an hour worth of work for a meal that I will consume is the same thing as me trading an hour of work for a nebulous pile of 1s and 0s and hoping some dipshit will pay 2 hours worth of work for them later
Lmao you're working in a barter economy?
I make x dollars per hour
A meal at a restaurant costs roughly x dollars
I trade one hour of labor for x dollars, then trade x dollars for one meal
YOU DO THIS TOO
So you're working in hope to get a nebulous pile of 1s and 0s or a some colorful pieces of paper. On top of that those numbers and papers have no intrinsic value, but are instead valuated by some dipshits and can become worthless overnight.
What's your point there buddy?
The money I work for has value because its almost entirely held in banks insured by the United States Federal Reserve and those dollars are backed by the full faith and credit of the United States. If that money becomes valueless overnight the whole world is in for a very rough time, and I definitely won't be alone in my plight. You can't say any of that about cryptocurrencies
No. Money is a representation of an exchange of value.
Crypto is not money the same way gold is not money.
https://youtu.be/iKYKLgzyF9o?si=o-tMPGpGu-zZPYiM
Remind me again what Bitcoin is
I mean, logically there's something that people need in some of those...
Bro food is a bubble
Economics is simply a study in how to allocate scarce goods. It does not need to result in hoarding scarce goods in the hope of getting more for them later.