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We could have a very different discussion in the advent or circumstance of a legitimate gold standard because 1 oz gold = 1 oz gold, regardless of the value of gold between any two people in a market.
I agree RE supply & demand, but I don't find those sufficient excuses. We have human trafficking in the world because of supply & demand as well. I hope that example suffices to show that economic analysis cannot imbue morals into behavior.
1 oz gold = 1 oz gold
That's not true. 1oz today and 1 oz tomorrow are widely different things. Really shows that you haven't understood what this is about.
1 oz of gold today and 1 oz of gold tomorrow are not very different things, especially if literally the same 1 oz of gold.
The VALUE of 1 oz of gold today and tomorrow could "be widely different things" but I don't mean that, however that would surely play into the decision-making of a person to borrow or lend any mass of gold for profit.
You lack basic economic understanding and it shows
How helpful.
Agreed. There is no usecase for stablecoins since there is nothing in the world as stable as Bitcoin which is always 1 in 21 million.
I think atm it is just supply & demand. People are demanding for fiat o Lightning and the market provides fiat on Lightning. Sad but that's the current state of practice/theory. I assume it will change in the long term.