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<p><a class="moz-txt-link-freetext" href="https://www.coindesk.com/crypto-is-booming-in-economically-challenged-argentina">https://www.coindesk.com/crypto-is-booming-in-economically-challenged-argentina</a></p>
<p>Technically *coins are as "fiat" as government currencies, having
nothing backing them. Bitcoin has a defined max # of 21M for
what *that* is worth. Fiat +/- ? <br>
</p>
<p>I think our previous discussion (that fizzled?) on "what is
wealth for?" is being addressed here again. I appreciate Glen's
characterization as money being a quantity for stock and flow and
that *value* comes from flow, to the point that excessive hoarding
(stock) is not a good thing. <br>
</p>
<p>Wealth (stored value?) is like anything else (including) free
Energy... it is *at best* a means to another ends and must be
considered in the context of what anyone might value (which varies
with context). A healthy food forest and the knowledge/skill to
maintain and propogate it might be fundamentally more valuable
than a mattress full of krugerands (or kangaroos or maple leafs or
trump-busts) in gold, or even cases of .45 ACP ammo or seeds, or
cryptokeys loaded with Bitcoin. Oh yeah, and a functioning,
healthy community?</p>
<p><br>
</p>
<p><br>
</p>
<div class="moz-cite-prefix">On 4/15/21 2:52 AM, Pieter Steenekamp
wrote:<br>
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<div dir="ltr"> "
But I'd argue against storing value at all, anywhere "<br>
I assume you mean passive storing value like in fiat or crypto
currency or for example art for the purpose of storing value.<br>
I agree with your sentiments, but I would not take it to the
extreme. IMHO, to oil the wheels of productivity in society some
storing of value in passive form is required. Like Tesla buying
Bitcoin to store value. And I believe in personal
responsibility, I want to store some of my value in liquid
passive assets. I don't have any trust in fiat
currency's ability to maintain its value for long
periods, because governments all over the world are printing
fiat money like there is no tomorrow. Maybe it's good, I don't
have a clue, but I certainly don't think that's a good way to
preserve the value of the currency for long periods. So, I
choose to put a portion of my assets in Bitcoin. If disaster
strikes and I need money in the future I don't want to
necessarily sell off my stake in productive value storing (like
a business, or shares in a company).</div>
<br>
<div class="gmail_quote">
<div dir="ltr" class="gmail_attr">On Thu, 15 Apr 2021 at 00:15,
⛧ glen <<a href="mailto:gepropella@gmail.com"
moz-do-not-send="true">gepropella@gmail.com</a>> wrote:<br>
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<blockquote class="gmail_quote" style="margin:0px 0px 0px
0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">This
isn't what you asked for. But I'd argue against storing value
at all, anywhere. That's for 2 reasons: 1) often, not you or
anyone here necessarily, what people who think 'storing value'
really want is *rent* ... to make money without contributing
productively. And 2) hoarding doesn't imply value. Money
contributes to the world by it's *movement*, by changing
hands. So a savings account or money market can (somewhat
passively) help the world more than burying cash in your yard.
But *spending* money helps the world in innumerable ways,
especially when it's not to buy arbitrary stuff, but to
encourage others to do work ... like .... [cough] ... write
poetry or brew beer.<br>
<br>
On April 14, 2021 2:49:55 PM PDT, Pieter Steenekamp <<a
href="mailto:pieters@randcontrols.co.za" target="_blank"
moz-do-not-send="true">pieters@randcontrols.co.za</a>>
wrote:<br>
>I am a strong supporter of Bitcoin. Sure there are
negatives, it's not<br>
>all<br>
>just positive. There also are risks, Bitcoin could lose
all it's value.<br>
>The<br>
>main reason why I support it is because it's probably one
of the best<br>
>ways<br>
>to store value. With all the crazy printing of fiat
currencies all<br>
>around<br>
>the world, is there a good argument that any fiat currency
will keep<br>
>it's<br>
>value? I'd really like to listen to these arguments with
an open mind.<br>
>I'd<br>
>also like to listen to arguments why any other way to
store value is<br>
>significantly better than Bitcoin.<br>
>But, I'm not saying it's the only way to store value and
I'm definitely<br>
>not<br>
>advocating to store all your value in Bitcoin. A portfolio
where some<br>
>portion, dependent on individual circumstances, is stored
in Bitcoin is<br>
>in<br>
>my opinion very good.<br>
<br>
-- <br>
glen ⛧<br>
<br>
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