"An increase in merchant acceptance, ceteris paribus, does not increase the value of the coin. Therefore, an increase in merchant acceptance does not increase the value of the coin."
I think this is the fundamental confusion.
Post by twetch#1832
This is a common abuse of aprioristic reasoning in Austrian Economic circles. I used to think the same way, but then I saw the mistake.
I wrote an article about it here:
http://steve-patterson.com/abuse-apriorism-economics/
Ceteris paribus is misleading.
What the chain says
- Block
- 635 515
- Time
- 2020-05-19T00:15:13Z
- Signer
- 17zmPibuXUuDsPnW5B4UVsV9jin35HWWU2
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#1832
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17zmPibuXUuDsPnW5B4UVsV9jin35HWWU2 Verified