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0 sats \ 3 replies \ @CliffBadger 27 Sep \ parent \ on: Our Economy Has Never Needed an "Elastic" Currency econ
The Bitcoin economy. You're already in it. Buy bonds if you trust the government so much.
Bitcoin is (potentially) a monetary system but it is not an economy.
Do you even understand the difference???
Even though Bitcoin was created to enable MoE independent of fiat, it is very rarely used in this manner and is almost entirely traded within the fiat system as a speculative commodity.
I previously pointed this out - but you don't seem capable of absorbing information.
Rather pointless to continue attempting a constructive dialogue with someone incapable of comprehending and acknowledging when they are wrong.
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Bitcoin is (potentially) a monetary system but it is not an economy. Do you even understand the difference???
I think this is just a cultural difference in how we process information. The EU is technically an economic alliance, but in my view that alone amounts to an encroachment on the sovereignty of each member state. You can claim that Bitcoin isn't an economy by your definition of economy, but if my entire life is structured around the price of Bitcoin, then as far as I'm concerned Bitcoin is the economy. It's less a matter of right and wrong, and more a difference in how we summarize and parse out the same information, but I think my way is more useful because it takes into account the massive imminent price increase of BTC, whereas when you focus on its current percieved status as a speculative commodity, it implies that the price is random, but I think you're overvaluing current popular opinion at the risk of missing the bigger picture.
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The EU is a common market in a similar way to how the US is a federation of states.
Bitcoin is not an economy. It is a monetary system at best.
Bitcoin is similar to gold, which surely you can see is not an economy?
Bitcoin and gold are not economies- they are tokens and stores of value- nothing more- certainly not functioning economies with the rule of law and diversity of goods and services an economy must have to function.
Even if there are some small examples of Bitcoin based economies such as in El Salvador, they still have governments, citizens and businesses, taxes and land titles, roads and infrastructure and laws governed by the government, not by Bitcoin.
A monetary system is part of an economy- the MoE enabling exchange of goods and services- it is not and cannot be an economy in of itself.
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