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“might destroy linear concept of what money is, and lead to chaos.”

[https://youtu.be/d-sD7eigmOE?t=709](https://youtu.be/d-sD7eigmOE?t=709)

Jim Rickards’s story about how a urinal ended in an art gallery and changing art the way people saw it is actually pretty crazy, didn’t know that. (TL: DW : An artist put a urinal in an art gallery. People said you can’t do that. His response “I just did”. And so you got a new form of art). But I see BTC kinda the same way. Most people never really asked about or really questioned their money because you just grew up assuming it had value, they’ve never had any reason to believe otherwise. But when family/friends don’t see how it has value, I have to explain to them that the only reason your dollar has value is because you believe it has.

Don’t agree with him saying it’ll be chaos after. I think (hope) that this leads to more people questioning their dollars, so if its chaos to that regard, then I agree.



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5 Comments

  1. ironically hallucinogenics often lead to introspection and profound life altering experiences generally for the better.

    and if you do have a bad trip it’s because you yourself were not in a good place mentally and emotionally when taking the trip.

    i think this says a lot about people who take the bitcoin orange pill and have a bad trip. they were not in a good place in their understanding of money and value and they had too much of an ego to be receptive enough to bitcoin that they have a bad trip down the rabbit hole and so they conclude that bitcoin is bad.

    just like when taking hallucinogenics and you experience ego death – you need to kill your ego when learning about bitcoin. too many “experts” can’t let go of their credentials and experience that they have a bad trip with bitcoin and think it’s bad.

  2. It’s a bit simplistic to just say, “the only reason your dollar has value is because you believe it has”. The reason dollars have value is because you are required to pay your taxes using them. This concept is called [chartalism](https://en.wikipedia.org/wiki/Chartalism) and it is linked to the [credit theory of money](https://en.wikipedia.org/wiki/Credit_theory_of_money).

    >Whenever a tax is imposed, each taxpayer becomes responsible for the redemption of a small part of the debt which the government has contracted by its issues of money, whether coins, certificates, notes, drafts on the treasury, or by whatever name this money is called. He has to acquire his portion of the debt from some holder of a coin or certificate or other form of government money, and present it to the Treasury in liquidation of his legal debt. He has to redeem or cancel that portion of the debt…The redemption of government debt by taxation is the basic law of coinage and of any issue of government ‘money’ in whatever form.

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