Re:As an investor, why is crypto so hard to value?
by jkepler on Sunday December 12, 2021 @09:01AM
(#29529667)
>> there's nothing inherent in money that makes it that way
> Yes there is. Typically money is legal tender ...
Parent comment was right, subjective value thesis says people will value things (including money) differently.
And legal tender laws are only "typical" of government coercion in the central bank era, basically the past century or so. Prior to that the king or the local sovereign may have required taxes paid in his coin, but multiple monies circulated and people freely chose which ones to spend, save, accept, or not.
> Yes there is. Typically money is legal tender ...
Parent comment was right, subjective value thesis says people will value things (including money) differently.
And legal tender laws are only "typical" of government coercion in the central bank era, basically the past century or so. Prior to that the king or the local sovereign may have required taxes paid in his coin, but multiple monies circulated and people freely chose which ones to spend, save, accept, or not.