Re:Cambridge Bitcoin Electricity Consumption Index
by dragonwriter on Wednesday February 10, 2021 @11:51AM
(#26091604)
> Ah, the “everything is subjective” rabbit hole
“Everything is subjective” is a (reasonable) epistemological argument about all access to data about the world being through subjective lenses, and thus all conclusions about the world being grounded in subjectivity. But that's not the sense in which value specifically is subjective.
Value specifically is subjective because value is dependent on the subjective utility functions of people who have (or who might seek to acquire) the good and it's competing/alternative goods.
> This provides us some objective goals
That's about the value of a monetary system not the value of money, but both the specific goals, and more particularly how they are weighted against each other, remain subjective and the source of considerable disagreement.
“Everything is subjective” is a (reasonable) epistemological argument about all access to data about the world being through subjective lenses, and thus all conclusions about the world being grounded in subjectivity. But that's not the sense in which value specifically is subjective.
Value specifically is subjective because value is dependent on the subjective utility functions of people who have (or who might seek to acquire) the good and it's competing/alternative goods.
> This provides us some objective goals
That's about the value of a monetary system not the value of money, but both the specific goals, and more particularly how they are weighted against each other, remain subjective and the source of considerable disagreement.