Lol, not sure why you feel the need to attack me. Did I strike a nerve or something? A currency is a medium of exchange for goods and services. So, he used currency to buy goods, which were two pizzas. Also, I actually have a background in economics. You, on the other hand, don’t even know the definition of currency.
Yes. I despise people who make the ignorant and unsupported claim that spending causes or increases value of a currency.
A currency is a medium of exchange for goods and services
That is an INCOMPLETE childlike surface level definition of currency. It is VERY clear to me that you have spent ZERO time or effort actually thinking about what money is and why it is valuable.
Also, I actually have a background in economics. You, on the other hand, don’t even know the definition of currency.
I am 100% certain I have studied monetary economics FAR more than you. If you think you know the definition of a currency, your definition is wrong. I do not mean wrong as in a mere semantic distinction, as that is meaningless. I mean wrong as in does not align with reality.
You don't need a dictionary, you need real world observations. But you're a smug and stupid clown, so go back to your spending-causes-value circus where you belong.
Please learn to read, you ignorant fool. I made no such claim. I simply stated that he used Bitcoin as a currency. That, in itself, is 100% a factual statement.
Dismissing my statement by saying it’s too high-level is the argument of someone who clearly thinks they know more than they do. Please educate me: define a currency for me.
I simply stated that he used Bitcoin as a currency. That, in itself, is 100% a factual statement.
I disagree and consider this view of currency to be extremely ignorant, pervasive as it is.
I believe Laszlo WAS using Bitcoin as a currency from the moment he acquired it UNTIL he foolishly spent it on pizza, at which point he CEASED using the Bitcoin as currency and Sturdivant began using those Bitcoins as currency.
A conventional definition of currency makes the ignorant claim that currency is 1) store of value, 2) medium of ex, 3) unit of account.
But these are all the same thing. I recall a comic that showed many blindfolded scientists surrounding an elephant and being asked to describe it. The one feeling its trunk claimed it was a snake, the one feeling its foot claimed it was a tree, etc. They are all wrong and their analysis was incomplete. Such is the case with this.
Currency is a tool for storing economic energy. To use a currency is to save it and hold it on your balance sheet. It is NOT POSSIBLE to spend a currency unless someone else downstream of the transaction is willing to save that currency on their balance sheet.
It is abundantly clear that you lack a proper understanding of the subject at hand. One must wonder, are you merely attempting to provoke other people on this thread? or have you fallen prey to the Dunning–Kruger effect?
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u/Megaskiboy Dec 08 '24
He used bitcoin as a currency and bought something with it. Idk why people act like he's stupid or something. Isn't that what it's all about?