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To me it's never been that "intrinsic value" of Bitcoin makes much sense, but that it holds up a mirror to the incumbent system and how little that makes sense
by dnamlin 3y ago
To me it's never been that "intrinsic value" of Bitcoin makes much sense, but that it holds up a mirror to the incumbent system and how little that makes sense either!
- wonderwonder 3y agoAgree, so much of our global financial system is just made up and produces wealth from the ether. Credit default swaps...
- wmf 3y agoCredit default swaps are not magic; if you can correctly predict future default risk you can use CDSes to take money from people who predict wrong (and this also provides information to the market, encouraging the underlying to be more accurately... never mind).