Loved the video. You helped me understand why Bitcoin’s claims never really made sense to me! Have you written anything or made a video about the credit structure of the existing monetary system? I’d like to understand that better… Thanks!
The point (from 25:12) about Nakamoto's original bitcoins being moveable but not exchangable/tradable (because nobody valued them) really clarified something for me.
It's only through the mystique they acquired that they became valued, and through that value that they acquired a price, and through the price that they became (temporarily?) exchangeable/countertradable.
So clear, and so appreciated. As was the reminder that gold too is not a currency, yet has great countertrade value through its millennia-deep cultural mystique.
"It's only through the mystique they acquired that they became valued, and through that value that they acquired a price, and through the price that they became (temporarily?) exchangeable/countertradable" - absolutely
First, let's be friends. Second, let me ask you a first question: How present money is backed by a "liability" like a voucher if the issuer (banks) creates it out of nothing? It is the inverse of vouchers, since the redeemable object doesn't belong to the issuer (but to the entire society and that's why money creation causes inflation, theft).
Loved the video. You helped me understand why Bitcoin’s claims never really made sense to me! Have you written anything or made a video about the credit structure of the existing monetary system? I’d like to understand that better… Thanks!
I do appreciate your criticism, and I have to admit you also make me laugh with your faces and your $9000 pizza.
I'm glad to hear that ;)
I find this „free riffing“ very effective. If this format saves you time, by all means, keep it coming.
For sure - I like making more structured videos at certain points, but the improv stuff is kinda more fun
Fantastic video Brett.
The point (from 25:12) about Nakamoto's original bitcoins being moveable but not exchangable/tradable (because nobody valued them) really clarified something for me.
It's only through the mystique they acquired that they became valued, and through that value that they acquired a price, and through the price that they became (temporarily?) exchangeable/countertradable.
So clear, and so appreciated. As was the reminder that gold too is not a currency, yet has great countertrade value through its millennia-deep cultural mystique.
Super helpful, thanks.
Thanks my friend
"It's only through the mystique they acquired that they became valued, and through that value that they acquired a price, and through the price that they became (temporarily?) exchangeable/countertradable" - absolutely
First, let's be friends. Second, let me ask you a first question: How present money is backed by a "liability" like a voucher if the issuer (banks) creates it out of nothing? It is the inverse of vouchers, since the redeemable object doesn't belong to the issuer (but to the entire society and that's why money creation causes inflation, theft).