/biz/ - Business & Finance

>>57315316
Fucking Keynesian brainrot
>Functional demand is DETRIMENTAL to a Money
How the fuck did money arise you massive retard? Through BARTER, through EXCHANGE. Because people thought that using the money-commodity, it would be easier to use for the next exchange. Because it had UTILITY. And through that, once people started using it, it came to a cycle of self-validation. If people are using gold, I should also use gold, because it will be easier for the next exchange. This is called the Regression theorem and is the FOUNDATION for modern economic thought about currency.
>price is a product of aggregate demand
Price is a product of supply and demand. Demand is produced by usage, and supply is affected by inflation. As simple as.

>Gold is the best natural money precisely because it has little functional demand
So why has gold been historically more used than silver? Intrinsically they are the same, they are scarce, durable, small, etc. Yet silver has less functional use than gold. Hmmmmmm
>now less than 10% goes to actual use
And what was the historical data?
>muh halvening
And who will finance the network? Transaction fees? When did that happen in the history of Bitcoin or any other larger PoW network for any sustained period of time? Will Bitcoin's infrastructure magically work until the heat death of the universe? Are you this unknowledgable about Bitcoin? As a anti-maxi I feel like I know more than most maxis about Bitcoin.

Utility is key, without it, there is nothing. Money is a medium of exchange. Now read up.
>https://mises.org/wire/critique-bitcoin-stock-flow-model
>https://mises.org/wire/cryptocurrency-money-store-value-or-medium-exchange
Also the whitepaper in case you missed it:
>https://bitcoin.org/bitcoin.pdf
>https://bytecoin.org/old/whitepaper.pdf

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