Morgan Stanley says the true price of Bitcoin might be zero

Re:Morgan Stanley says the true price of Bitcoin might be zero by MsMowz on Sunday December 24, 2017 @09:18AM (#15999618)

Modern fiat currency is backed only by debt. The fact that money can be backed by debt implies that there agents have a sufficiently sophisticated ability to judge trust of other agents. It's not extremely relevant that trustworthy behavior is enforced by the state.

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Re:Morgan Stanley says the true price of Bitcoin might be zero by abritinthebay on Sunday December 24, 2017 @09:23AM (#15999642)

This is also not true.

GDP, long term economic prospects (of which debt is a part), and political stability are all major factors in fiat currency value.

This is not as bad as the original oversimplification but it’s a pretry incorrect one by itself.

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Re:Morgan Stanley says the true price of Bitcoin might be zero by havetocharge on Sunday December 24, 2017 @09:54AM (#15999765)

What about the power to tax? All governments operate within the fiat currency framework.

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