Quote from: Arriemoller on December 25, 2019, 09:09:55 PM

Quote from: d_eddie on December 25, 2019, 08:29:28 PM

Quote from: Arriemoller on December 25, 2019, 07:22:54 PM

The bolivar disagrees.

And it's approaching its production cost indeed.

Pretty sure it's way below it's production cost.

The value of a currency is zero because it's not a real resource or commodity. If you were valuing the paper itself as a commodity, the cost of a sheet of paper is supposedly six cents (sounds high but what people claim). You could fit like 4 bills on a sheet of paper, so it would be more like 1.5 cents per bill. They use more expensive materials for currency, so that would raise the commodity value of a Bolivar back up to like 3-5 cents or something.

The problem is that valuing the paper as a commodity doesn't work since it's not blank and already has something written on it, so it's commodity value is back to zero again, or recycle value at best. In that case, you're better off using literal white sheets of blank paper as money since it has a higher value. But the Bolivar could still technically be used at recycle value too. What's the true valuation of a Bitcoin as denominated by it's recycle value?...zero.