—”The two biggest forms of theft are Taxes and Inflation. Hence, Bitcoin”
No disagreement, except there, is no underlying value with bitcoin.
“Smith’s theory of value was very similar to the later utility theories in that Smith proclaimed that a commodity was worth whatever labor it would command in others (value in trade) or whatever labor it would “save” the self (value in use), or both. However, this “value” is subject to supply and demand at a particular time”
No diamond mine with dwarfs laboring to pick out the diamonds? The labor theory of value!
What is the intrinsic value of a crypto coin?
Some computer humming day and night creating heat?
Golds only source of value is its durability and… SCARCITY.
It’s labor value is near meaningless other than it’s difficulty to obtain which is, BTW, true of Bitcoin now.