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Showing content with the highest reputation on 03/16/2024 in Posts

  1. The Royal Mint Museum has confirmed that 28.30 mm is incorrect and according to "the data used in the Museum, sourced from the production records held in our archive" the diameter for all florins from 1893-1970 should be 28.50 mm.
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  2. I suspected that was the case, because the coin was very rare, or in unusually good condition, but I can't believe that something invented last week, that doesn't exist, is such a lure for people. How or why 'mining' happens is a mystery too. When it all collapses into a Malthusian nightmare, and people are jumping off tall buildings like they did 100 years ago, then I'll understand a little more.
    1 point
  3. Probably correct for the time, but times change. The Chinese are now the quick witted and the Brits and the West in general are backward and slow in thought. Time to wake up to our selves. The truth always hurts.
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  4. Yes - the “price” is determined by supply and demand, but that supply and demand itself is determined by the (subjective) “value” to the people supplying / demanding. In the absence of anything else (cannot be used to fill teeth or pay taxes, for example) that value will be based on the value as speculative instrument. This makes for volatile price action (just watch) which makes for a terrible store of value (grannies don’t trust it) which means it will not be generally accepted - and so cannot be “money” (generally accepted means of exchange). The technology is fantastic. But the initial premise was that it would become “money”. That premise fueled the initial speculation. Now the speculation itself fuels the speculation. Not good. Speculation can go to infinity (or zero) if not tethered to reality by some reference value aside the speculative value itself. The initial premise was wrong and one day the market will discover the price that properly reflects its worth.
    1 point
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