@shortstories @VeganMGTOW @Tfmonkey Gold has value because it's hard to get more gold too. Like analogue blockchain. 😏

@BowsacNoodle @shortstories @VeganMGTOW @Tfmonkey Plenty of crap is hard to get and rarer, gold has many real world applications.

@white_male @Tfmonkey @VeganMGTOW @BowsacNoodle

Dodo bird poop would be very rare but would it be more valuable than gold

@shortstories @Tfmonkey @VeganMGTOW @BowsacNoodle I'm implying rarity plus usefulness make it valuable, also it's shiny. Not any rare crap, there has to be demand.

@white_male @shortstories @VeganMGTOW @Tfmonkey I'm making a funny friend, of course. Gold doesn't oxidize, it's insanely malleable, a very good conductor, etc. The lack of oxidation is why it's used in most places.

@BowsacNoodle @Tfmonkey @VeganMGTOW

Blockchain is a ponzi scheme for the same reason paper & electronic money & seashell or sea dollar money are ponzi schemes

If you are stuck with it and no one will trade for it then it has no use for you

If you are stuck with food and no one will trade for it then it has use for you because you can eat it so it is not a ponzi scheme

@shortstories @Tfmonkey @VeganMGTOW It's only a ponzi scheme until it's mass adopted. At that point it's just a currency alternative. The success of failure of blockchain tech depends on getting more users, BUT it doesn't require infinite growth in users, which makes it not a ponzi scheme.

@BowsacNoodle @Tfmonkey @VeganMGTOW

Money is like the hot potato game if you are the last person to have it when no one else wants it then it is useless to you and you lost whatever item you traded to get it

No one wants to be the last person holding the hot potato when time runs out

Now if it was a real hot potato instead of money you could eat it when the time runs out and no one would trade with you

@shortstories @Tfmonkey @VeganMGTOW Sure, but that same thing applies to any fiat currency which normal discourse doesn't dismiss as a ponzi scheme.

@BowsacNoodle @Tfmonkey @VeganMGTOW

Fiat currency is a ponzi scheme

@shortstories @Tfmonkey @VeganMGTOW By definition, it isn't. We can argue the details of whether it's good, bad, or neutral, but it is not a ponzi scheme.

@BowsacNoodle @Tfmonkey @VeganMGTOW

I propose the United States print out as much money as possible then buy lots of scarce and useful items with it

Then when the money is worthless they will have scarce and useful items but the people who took the money from them will be stuck with useless money

@shortstories @Tfmonkey @VeganMGTOW a less dramatic but very real version of this happened with lenders and bond buyers in the 2015-2021 era.