1023190
yingyunzhuang
@yingyunzhuang #1023190
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Bitcoin is a "fiat asset" it is not a "hard asset".
The Fiat Bitcoin "Bitchain-Securitized Bitcoin Futures Derivative Contract Token" has only a small actual intrinsic value owing largely to the novelty and curiosity of it's uniquely secured residence in the secured encrypted exchange-chain in which it only functions and resides. It also has utility value in the way it's easy to conceal, easy to transport, impossible to counterfeit, is mutually owned and profited from buy all of it's users alone and hopefully (more so in the future) requires no third party to use as a barely somewhat viable "medium of Byzantine-exchanges".
The Fiat Bitcoin "Bitchain-Securitized Bitcoin Futures Derivative Contract Token" has only a small actual intrinsic value owing largely to the novelty and curiosity of it's uniquely secured residence in the secured encrypted exchange-chain in which it only functions and resides. It also has utility value in the way it's easy to conceal, easy to transport, impossible to counterfeit, is mutually owned and profited from buy all of it's users alone and hopefully (more so in the future) requires no third party to use as a barely somewhat viable "medium of Byzantine-exchanges".
There are three echelons of commodity resource values:
The top floor is occupied by Mediums of Labour Exchange Currency of Assured Value
The second floor is occupied by extreme rarities like gems, art, antiques and (lesser) precious metals or Mediums of Savings
The bottom floor is occupied by all other (finite or not-so) commodity resources which are Mediums of Investment
The top floor occupants must struggle to retain their tokens value to save everyone from starving to death.
The second floor contains rare and finite things certainly assured to only ever inflate in value
The bottom floor contains stuff that may inflate or deflate in value, it's a circus of games we call an economy.
The seeming "price inflation" of "finite" Mediums of Savings ("hard" assets) are the direct and unavoidable arithmetic consequence of "infinite" (or at least much less finite) economic growth.
The top floor is occupied by Mediums of Labour Exchange Currency of Assured Value
The second floor is occupied by extreme rarities like gems, art, antiques and (lesser) precious metals or Mediums of Savings
The bottom floor is occupied by all other (finite or not-so) commodity resources which are Mediums of Investment
The top floor occupants must struggle to retain their tokens value to save everyone from starving to death.
The second floor contains rare and finite things certainly assured to only ever inflate in value
The bottom floor contains stuff that may inflate or deflate in value, it's a circus of games we call an economy.
The seeming "price inflation" of "finite" Mediums of Savings ("hard" assets) are the direct and unavoidable arithmetic consequence of "infinite" (or at least much less finite) economic growth.
While one might find some reason to create the confusion of calling it "price inflation or deflation", most of us properly define those phenomenon as "Price Discovery". Unforeseeable, unpredictable, undesirable and nasty, "behind your back" economic fluctuations caused by Monetary "Inflation or Deflation" are the only "flationy" bubble-type things that everybody always cares about remedying.
Salt worked as a "money" only so long as it retained it's aura as a rarity of constantly assured value. Salt's price-demise (Price Deflation) as a currency no doubt came about with the invention of the Sauna bath where people suddenly became aware it was as common as sea water.
Of course all these things didn't happen at once because, in the pre-refrigerated ancient world, salt (in high demand) was the first well known and widely traded form of a widely accepted Medium of Labour Exchange Currency (aka "money"). Indeed the further it had to be conveyed to deliver it, the more it's intrinsic value was "Price Inflated".
