418 sats \ 1 reply \ @kepford 30 Jan \ on: On Providing Value econ
I think @siggy47 nailed it. The individuals involved in any transaction determine the value for them at that place and time. But they cannot determine the value for others. If you take morals out of this this remains true. For transactions the ONLY objective view is that the two or more parties determine the value for themselves. This is not objective value for everyone. They may not even agree with their value determinations over time. I know that is true for me.
In an economic sense there isn't a moral perspective IMO. Economics are amoral. It is a frame to understand human actions. And a transaction is a single data point. What one person may value may be destructive to them. Their value judgement could be off. Its a single data point and it is their subjective value judgement. Not an absolute moral decision for all humans through time.
When we start talking about moral values we enter into another realm. I've read "Thank God for Bitcoin. I really enjoyed it btw. @jimmysong I know you profess to be a Christian so I suspect you will agree with me that from our perspective God, the creator of everything is the ultimate decider of value. Not one person has His view on our transactions. He gave us His word to show us the way. All we can do is seek to follow His guide. Seek to see things as He sees them. How does He value the many transactions that I am a part of? Ultimately that is what matters. I'm just thankful that He values us. From my perspective that doesn't even make sense.
I believe it is a trap to focus on the decisions and value judgements of others. We must first focus on our own value judgements. Seek to remove the log from our own eye before trying to help others with the speck in their eye. That doesn't mean we never talk about things like this just that it is easy to get focus outwardly vs. upwardly.
Clearly there are many transactions that do not provide value from my own view and surely from God's perspective. But what then? In the end I have landed on this. I cannot determine the objective value of anything on my own. I can probably get close, but I should focus on what is in my control over what is not. I value bitcoin far above the current market price on any day. I'm only one data point. Important to keep our opinions in context of our human fallibility and limited knowledge. This is why I so often repeat @ODELL with "Stay humble". I need to be reminded daily.
One more way to look at this.
Value is subjective. At least from our human perspective.
It doesn't matter how hard I work to write some code. How good that code is. How error free it is if it is not needed. I could build the most perfect app every built but if no one values what it does I will never make a dime of money on it.
Why? Because each person determines the value of things for themselves. And... this value can change based on mood, culture, morals, etc. I value SN far more than some people and far less than others. This post is a good thought provoking topic but to me the Libertarian's get it right on the macro level. The personal level is just that. Personal.
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