https://www.coindesk.com/crypto-is-booming-in-economically-challenged-argentina
Technically *coins are as "fiat" as government currencies, having nothing backing them. Bitcoin has a defined max # of 21M for what *that* is worth. Fiat +/- ? I think our previous discussion (that fizzled?) on "what is wealth for?" is being addressed here again. I appreciate Glen's characterization as money being a quantity for stock and flow and that *value* comes from flow, to the point that excessive hoarding (stock) is not a good thing. Wealth (stored value?) is like anything else (including) free Energy... it is *at best* a means to another ends and must be considered in the context of what anyone might value (which varies with context). A healthy food forest and the knowledge/skill to maintain and propogate it might be fundamentally more valuable than a mattress full of krugerands (or kangaroos or maple leafs or trump-busts) in gold, or even cases of .45 ACP ammo or seeds, or cryptokeys loaded with Bitcoin. Oh yeah, and a functioning, healthy community? On 4/15/21 2:52 AM, Pieter Steenekamp wrote: > " But I'd argue against storing value at all, anywhere " > I assume you mean passive storing value like in fiat or crypto > currency or for example art for the purpose of storing value. > I agree with your sentiments, but I would not take it to the extreme. > IMHO, to oil the wheels of productivity in society some storing of > value in passive form is required. Like Tesla buying Bitcoin to store > value. And I believe in personal responsibility, I want to store some > of my value in liquid passive assets. I don't have any trust in fiat > currency's ability to maintain its value for long periods, because > governments all over the world are printing fiat money like there is > no tomorrow. Maybe it's good, I don't have a clue, but I certainly > don't think that's a good way to preserve the value of the currency > for long periods. So, I choose to put a portion of my assets in > Bitcoin. If disaster strikes and I need money in the future I don't > want to necessarily sell off my stake in productive value storing > (like a business, or shares in a company). > > On Thu, 15 Apr 2021 at 00:15, ⛧ glen <[email protected] > <mailto:[email protected]>> wrote: > > This isn't what you asked for. But I'd argue against storing value > at all, anywhere. That's for 2 reasons: 1) often, not you or > anyone here necessarily, what people who think 'storing value' > really want is *rent* ... to make money without contributing > productively. And 2) hoarding doesn't imply value. Money > contributes to the world by it's *movement*, by changing hands. So > a savings account or money market can (somewhat passively) help > the world more than burying cash in your yard. But *spending* > money helps the world in innumerable ways, especially when it's > not to buy arbitrary stuff, but to encourage others to do work ... > like .... [cough] ... write poetry or brew beer. > > On April 14, 2021 2:49:55 PM PDT, Pieter Steenekamp > <[email protected] <mailto:[email protected]>> > wrote: > >I am a strong supporter of Bitcoin. Sure there are negatives, > it's not > >all > >just positive. There also are risks, Bitcoin could lose all it's > value. > >The > >main reason why I support it is because it's probably one of the best > >ways > >to store value. With all the crazy printing of fiat currencies all > >around > >the world, is there a good argument that any fiat currency will keep > >it's > >value? I'd really like to listen to these arguments with an open > mind. > >I'd > >also like to listen to arguments why any other way to store value is > >significantly better than Bitcoin. > >But, I'm not saying it's the only way to store value and I'm > definitely > >not > >advocating to store all your value in Bitcoin. A portfolio where some > >portion, dependent on individual circumstances, is stored in > Bitcoin is > >in > >my opinion very good. > > -- > glen ⛧ > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > <http://bit.ly/virtualfriam> > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > <http://redfish.com/mailman/listinfo/friam_redfish.com> > FRIAM-COMIC http://friam-comic.blogspot.com/ > <http://friam-comic.blogspot.com/> > archives: http://friam.471366.n2.nabble.com/ > <http://friam.471366.n2.nabble.com/> > > > - .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . > FRIAM Applied Complexity Group listserv > Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam > un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com > FRIAM-COMIC http://friam-comic.blogspot.com/ > archives: http://friam.471366.n2.nabble.com/
- .... . -..-. . -. -.. -..-. .. ... -..-. .... . .-. . FRIAM Applied Complexity Group listserv Zoom Fridays 9:30a-12p Mtn GMT-6 bit.ly/virtualfriam un/subscribe http://redfish.com/mailman/listinfo/friam_redfish.com FRIAM-COMIC http://friam-comic.blogspot.com/ archives: http://friam.471366.n2.nabble.com/
