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> Money is only useful to the extent that every unit is interchangable, accepted at face value without prejudice What makes you say that? If I paid you in gif
by erikpukinskis 8y ago
> Money is only useful to the extent that every unit is interchangable, accepted at face value without prejudice
What makes you say that?
If I paid you in gift cards redeemable with specific places you spend money would that not be useful to you?
What if I bought coffee from you and paid you in tokens that your employees could invalidate if they proved you engaged in illegal labor practices?
What makes these forms of money useless?
- CryptoPunk 8y agoThere is a usefulness gradient. The more fungible and liquid an asset it is, the more useful it is as a medium of exchange and store of value.
- erikpukinskis 8y agoThis seems really reductive. USD in a debit account would rank pretty highly on that gradient, and yet for many purposes it is totally useless. I would propose a diffuse cloud of uses, with different assets filling them out. More like a long tail than a gradient from “useful” to “not useful”.