RE: What is Cryptocurrency, but a Return to Human Dignity in Economics? (Thoughts on crypto, humanity, and the inevitable upcoming clash between coin and state)

I said human labor gives things there value that subjective or not the work has been done and the thing is given value

This is basically the Labor Theory of Value in action, no?

The market has shown time and time again, since the dawn of trading and exchange, really, that the LTV doesn’t hold water.

For example. I could put almost zero labor into bottling some water from a stream, and you could put a ton of labor into perfecting your recipe for, and making, a bottle of cola.

In the end, more than likely, I could still sell my spring water for more than your cola in many markets, regardless of the respective amounts of labor put in to making the two drinks.

If value is subjective, as economics says, then saying things can only have value in proportion to the labor used to create them is to deny basic economic principle.

I agree that the market can really hurt people’s feelings, including my own, but this doesn’t change the fact that this is how economics works.

Last thing about taxation. If you can stop taxation altogether it is true, I would have a problem with that. Not because I need it but (if done right) it could help those who could not have acquired a bit coin at 5 dollars much less 14,500 dollars!

What is your fair share of something someone else worked for or purchased? is what I would ask.

And as an aside, many of those folks who bought in early are helping those in need, and voluntarily, without state guns to their heads!

I’m with you brother. The world is sleeping and in many ways in a horrible state.

We can make it better though, as individuals.