this post was submitted on 08 Feb 2025
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How to fix the economy (lemmy.world)
submitted 3 days ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
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[–] captain_aggravated@sh.itjust.works 25 points 2 days ago (3 children)

To quote Brian Brushwood, "It's just pieces of paper that we believe in."

[–] Sunsofold@lemmings.world 1 points 2 days ago (1 children)

Was not expecting to see Street-Fighter's-Guile-as-a-magician quoted in this comment section... PR at all really. He's come a long way since Scam School, I guess.

[–] captain_aggravated@sh.itjust.works 1 points 2 days ago

The Modern Rogue was fun while it lasted.

[–] konki@lemmy.one -4 points 2 days ago (3 children)

The reason that you and everyone else believe in it is primarily because you need it to pay taxes, so the belief is not arbitrary.

[–] brbposting@sh.itjust.works 8 points 2 days ago (1 children)

Thinking of how I got here, reductively speaking:

be born
see parents buy food
they use money
i grow up
need food
i use money

[–] konki@lemmy.one -1 points 2 days ago (1 children)

I agree, but that leads to an infinite regress of your parents observering their parents, etc. My argument is really about the start of this chain.

[–] brbposting@sh.itjust.works 3 points 2 days ago

Ah I see!

Convenience ought to have helped too! Though yes when the person with that monopoly on violence thing asks, you do.

[–] explodicle@sh.itjust.works 2 points 2 days ago (1 children)

You don't need Bitcoin to pay taxes, yet belief in it continues to grow.

[–] konki@lemmy.one 1 points 2 days ago* (last edited 2 days ago) (1 children)

That is true, but Bitcoin, like all other crypto"currencies", is a Ponzi scheme. Its value is driven purely by speculation, and the hope that it can be passed on to a "greater fool" for profit. This is true for a lot of financial assets, by the way.

[–] explodicle@sh.itjust.works 2 points 2 days ago

You don't think secure time stamps are useful?

[–] Arcka@midwest.social 1 points 2 days ago (1 children)

Lots of people don't have to pay taxes.

[–] konki@lemmy.one 1 points 2 days ago

True, but somene has to, and they will create a demand for the currency. If I hear that Joe the baker needs money to pay taxes, and I want to buy bread from him, I know he will accept the government currency as payment for his bread. This in turn makes me demand money to be able to buy the bread.