Bitcoin and the Principle of Wealth (part 2)
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11:31
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All fiat currencies represent (at best) a paper claim on wealth, not wealth itself. How can Bitcoin serve any functional purpose as a medium of exchange when it's value fluctuates dramatically from week to week? How can rationale economic calculations ever be made in this environment? The answer is it cannot. You might as well use Enron stock as the medium of exchange in such a system. Just another reason why Bitcoin will eventually fail.
KSASTAMPS 1 week ago