I also tend to spread my posts over multiple territories.
Bob Murphy had such a great takedown of the Regression Theorem critique of Bitcoin. By the time Austrians were using it, the Regression Theorem no longer even applied to Bitcoin, since Bitcoin already had accumulated a non-zero monetary value.
In a truly Austrian fashion, Bob reminded his colleagues that value is subjective and if a couple of nerds just think it's neat to buy a couple of pizzas for thousands of Bitcoin, that's good enough to start the process of price discovery.
I also tend to spread my posts over multiple territories.
Bob Murphy had such a great takedown of the Regression Theorem critique of Bitcoin. By the time Austrians were using it, the Regression Theorem no longer even applied to Bitcoin, since Bitcoin already had accumulated a non-zero monetary value.
In a truly Austrian fashion, Bob reminded his colleagues that value is subjective and if a couple of nerds just think it's neat to buy a couple of pizzas for thousands of Bitcoin, that's good enough to start the process of price discovery.