12 But, Wait, There's More: Short-seller who called FTX and SVB, says the digital currency ponzi scheme is still unraveling. (archive.ph) posted 1 year ago by GeneralBoobs 1 year ago by GeneralBoobs +13 / -1 18 comments share 18 comments share save hide report block hide replies
Turns out literally worthless assets are literally worthless. Crypto doesn't magically become useful just because it takes time and effort to make it.
Because the labor theory of value is and always has been false.
now do fiat.
Equally as worthless.
not equally. fiat is worth even less, because fiat can be inflated infinitely. BTC can't.
Fiat's value comes from the fact that the tax man demands to be paid in fiat. You will always need some lying around as long as you're paying him off.
Fiat currency can at least be used as toilet paper.
Ah you mean military bonds.
Fiat has value because its backed by military. If a country refuses to accept USD they'll framed for 9/11 v2 and subsequently invaded.