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[quote] Well, I didn't get the reference (don't know the guy), my fault. That's a relief I guess. I thought you're nuts. It's an online forum, you never know.[/quote] I suggest you read his recents threads and retract your comment LOL. Sorry for trolling I couldn't resist.
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[quote]Highly dubious statement considering that Incans had not domesticated horses and the Sioux had.[/quote] Wouldn't favorable terrain tip the scale? The primary reason why we still have indians in South America is due to impregnable terrain. The coasts and open plains have been eradicated. Also didn't the Inca Empire have llamas and better
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I insist on the opposite. Blind zealotry is an effective way to eradicate swaths of humans. It easily spirals into a cumulative multiplier on human resources [with minimal maintenance].
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@Smiling Dave It's backed by its utility. I need to brush up on my Austrian basics.
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@Toxic Are we going to debate definitions down to ad naseum. Of course I was refering to the fact that Bitcoin is atleast entangled to the subjective value of watts if it ever holds any subjective value at all.
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@Smiling Dave Yes, value is subjective. Technically you are right in a trollish manner. My point here is to refute the point that Bitcoins backed by nothing. Which many here point out that bitcoins is a fiat currencys.
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Okay Smiling Dave, I still stand by my statement. Point me where I failed at interpreting Mises's Theory of Money and Credit. Chapter and Page number. Tell me your opinion why I'm wrong since it seems you are trolling. * Okay I will now stop at correcting grammar in my posts and will spam replies.
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You're still haven't answered my question. Whose language are you referring to? Mises? Marx? Bowerk? Keynes? The Dictionary? I'm using the dictionary. Please utilize the ground rules of debate. I'm here to focus on the subject not get into a flowery debate about definitions. Once I figure out who you are referring to I'll gladly
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Yes, thanks for clarifying my point. I guess internet monopolies inflates its value. "The whole point again with "backing" a currency is not the physical property of any incidental commodity being used to create it, but the general expectations of the community of users of such currency." Are you stating that bitcoins has no subjective
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Hmm.. thanks, I guess. Is this a stated fact or your personal language?