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> Cryptocurrencies “have no intrinsic value” and people who invest in them should be prepared to lose all their money, Bank of England (BOE) Governor Andrew Bailey said Thursday.damn what currency can i get that has intrinsic value
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@lain strawb1a60aced2caf3b34d5223e80dcff0c2…
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@hj @lain "unimportant people say it's cool" vs. "cool kids say it's cool"?
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@shmibs @lain i had a really good discussion about values, money and cryptocurrency, and his main point against crypto was that crypto, like turnips and other "boom" commodities backed by rarity, is "come-and-go" kind of things, backed solely by its rarity and benefit (you eat turnips), while fiat money is backend, supported and upheld by money, i.e. everyone HAS to accept it or something.
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@hj @lain mmm, that sounds like the same thing?
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@shmibs @lain no more like "bitcoin isn't backed by anything except speculation" vs "money is backed by government that may or may not be trusted"
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@lain サク
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@shmibs chomp