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1000 sats \ 4 replies \ @DarthCoin 4h \ parent \ on: Best Way to Improve Rust via Quant-Dev/Trading Projects? tech
No, are not important.
People can thrive without them. This is a wrong assumption that these speculations have something to do with capitalism. They don't. Speculation is not producing anything, just moving around fake volume of capital.
Do not get drunk with water.
There are more examples of people, producing grains and food and materials, that were fucked by these speculators on the "market"...
The price must be determined only by demand and offer, by how much a producer could produce in a year and how much demand of that product is in a year.
Not by speculators that can manipulate the price market by clicking some buttons and fuck up the producers...
I will use Bitcoin even if would be 0$. The cost in $ is meaningless.
Important is that somebody else is accepting it in exchange for other products and services.
Here is a good article from 2014
https://fee.org/articles/what-gave-bitcoin-its-value/
Of course we can still use bitcoin. It has nothing to do with Bitcoin vs fiat.
The prices of wheat, corn, or copper can all be denominated in bitcoin, like kg per sats or something. But price discovery will still be not only desirable but inevitable.
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you are too blind to see the true path... The Force will never be with you.
I suggest you to learn more economy and read Mises before going to start that project.
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People van thrive without any price signal of iron, corn, wheat or whatever have you?
People can thrive without risk hedging for loan defaults from corporates or car loans?
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