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From: Free Thinking Doggie |
Gold has value because it's rare, and takes an enormous amount of energy to mine and refine. Once refined,
it lasts forever.
Bitcoin fans argue that the same applies to Bitcoin, think of them as congealed energy.
Our world is energy.
Fiat currencies are based on debt.
When you apply for a loan, the bank creates the new currency (not money) out of thin air.
And that effectively dilutes the value of all the currency already in existence.
That's why, when I first started going to pubs, a pint of bitter cost 40p. You could get slaughtered for three quid.
Edited on 18/04/2024 at 20:49:16.
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