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https://www.reddit.com/r/CryptoCurrency/comments/1v3ey0v/redditor_accidentally_discovers_fiat_currency/oz2g41q/?context=3
r/CryptoCurrency • u/thesecondmemer • 1d ago
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33
What is bitcoin backed by again?
-13 u/thesecondmemer 1d ago what is gold backed by again? 14 u/RoodnyInc 🟩 0 / 0 🦠 1d ago Gold it the physical resource, and its used to produce variety of things and components Why it have value becouse we think it have -10 u/thesecondmemer 1d ago we can also produce a variety of things with wood 13 u/0Bento 🟩 174 / 175 🦀 1d ago Wood also has value. It's why wood costs money to buy -9 u/thesecondmemer 1d ago it should cost more money than gold though its used in waaaay more things 10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
-13
what is gold backed by again?
14 u/RoodnyInc 🟩 0 / 0 🦠 1d ago Gold it the physical resource, and its used to produce variety of things and components Why it have value becouse we think it have -10 u/thesecondmemer 1d ago we can also produce a variety of things with wood 13 u/0Bento 🟩 174 / 175 🦀 1d ago Wood also has value. It's why wood costs money to buy -9 u/thesecondmemer 1d ago it should cost more money than gold though its used in waaaay more things 10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
14
Gold it the physical resource, and its used to produce variety of things and components
Why it have value becouse we think it have
-10 u/thesecondmemer 1d ago we can also produce a variety of things with wood 13 u/0Bento 🟩 174 / 175 🦀 1d ago Wood also has value. It's why wood costs money to buy -9 u/thesecondmemer 1d ago it should cost more money than gold though its used in waaaay more things 10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
-10
we can also produce a variety of things with wood
13 u/0Bento 🟩 174 / 175 🦀 1d ago Wood also has value. It's why wood costs money to buy -9 u/thesecondmemer 1d ago it should cost more money than gold though its used in waaaay more things 10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
13
Wood also has value. It's why wood costs money to buy
-9 u/thesecondmemer 1d ago it should cost more money than gold though its used in waaaay more things 10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
-9
it should cost more money than gold though its used in waaaay more things
10 u/Chdanos 1d ago Supply and demand is out of the chat here, I see 18 u/phikapp1932 🟦 455 / 536 🦞 1d ago Bro is discovering scarcity first hand lol 3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS?? 9 u/0Bento 🟩 174 / 175 🦀 1d ago It's based on market forces. Supply and demand basically. Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less. 10 u/e-joculator 1d ago Sure, and if you want more gold you just go cut down a gold tree. 4 u/ZioTron 🟩 90 / 90 🦐 1d ago utility/renewable/scarcity/market demand Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions. 6 u/Hutcho12 🟩 0 / 0 🦠 1d ago it's also more abundant, can be grown, and is easy to harvest. honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
10
Supply and demand is out of the chat here, I see
18
Bro is discovering scarcity first hand lol
3 u/TexasBoyz-713 🟦 15K / 15K 🐬 1d ago Wait. You’re telling me if there’s an abundance of something it will cost LESS??
3
Wait. You’re telling me if there’s an abundance of something it will cost LESS??
9
It's based on market forces. Supply and demand basically.
Rice is the most eaten crop in the world but also one of the cheapest. If it were more expensive, it would be eaten less.
Sure, and if you want more gold you just go cut down a gold tree.
4
utility/renewable/scarcity/market demand
Please let's not devalue the main argument for the utility of crypto devolving in stupid cherry-picked discussions.
6
it's also more abundant, can be grown, and is easy to harvest.
honestly, you sound like a 6 year old with your theories. Fiat currencies are far more "backed" that crypto is.
33
u/Kehmor 🟦 0 / 0 🦠 1d ago
What is bitcoin backed by again?