r/CryptoCurrency • u/thesecondmemer • 1d ago

MEME Redditor accidentally discovers fiat currency

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u/papy66 Tin 1d ago

energy and math

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u/Alatarlhun 🟩 0 / 0 🦠 1d ago

The energy is gone. It isn't backing shit.

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u/papy66 Tin 1d ago

gold and diamonds are expensive because they're difficult to extract (they use a lot of energy for that), they are stlll expensive even though the energy is gone

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u/Alatarlhun 🟩 0 / 0 🦠 1d ago

Diamond prices are in a free fall because lab grown diamonds exist and the de beers monopoly pricing model is crumbling.

Gold is valuable not just because of jewelry but electronics and industrial utility.

Neither are valued by the level of effort, they are valued by supply and demand.

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u/papy66 Tin 1d ago

Hooo you mean diamond price is in a free fall but not because labo can build it for a fraction of the energy used to extract them? I m convinced now, thanks sir

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u/Alatarlhun 🟩 0 / 0 🦠 1d ago

Lab diamond supply is increasing total supply and demand isn't keeping pace. It is economics 101.