what you're describing is extrinsic value, not intrinsic. meaning it only has utility that someone imposes on you. I don't deny there's use there, but it's not innate to the item. any mafia that forces you to tithe in something would give it extrinsic value.
this is not an "is this useful" analysis, it's a "does this thing have innate value" one.
No when you're talking about objective value and not referencing market price you're talking about IV. Fiat has an objective measure of value in that it has the ability to satisfy the sovereign. Call them a mafia if you want but it's always been like that and always will. Crypto like tulip bulbs are fundamentally different things.
"it's valuable because someone makes me tithe in it" = this is definitionally extrinsic value. "this thing is useful" is not the measure for *intrinsic* value.
idk what ferreting in the word "objective" is doing here; it has nothing to do with the origins of the value and how it's derived.
nice write up!
:)
You consistently put out good commentary and intelligent pro-crypto viewpoints. Thank you!
much appreciated good sir. my pleasure!
Okra down bad by hammer test
Fiat currencies have IV: they are the only way to extinguish tax liabilities.
what you're describing is extrinsic value, not intrinsic. meaning it only has utility that someone imposes on you. I don't deny there's use there, but it's not innate to the item. any mafia that forces you to tithe in something would give it extrinsic value.
this is not an "is this useful" analysis, it's a "does this thing have innate value" one.
No when you're talking about objective value and not referencing market price you're talking about IV. Fiat has an objective measure of value in that it has the ability to satisfy the sovereign. Call them a mafia if you want but it's always been like that and always will. Crypto like tulip bulbs are fundamentally different things.
"it's valuable because someone makes me tithe in it" = this is definitionally extrinsic value. "this thing is useful" is not the measure for *intrinsic* value.
idk what ferreting in the word "objective" is doing here; it has nothing to do with the origins of the value and how it's derived.
IV vs EV definitions: https://twitter.com/BackTheBunny/status/1765821639470854478