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> I think most national currencies are based on religious-like beliefs and mass delusions to some extent. Lol, no. Four points: a) Money isn't value, money is

> I think most national currencies are based on religious-like beliefs and mass delusions to some extent. Lol, no. Four points: a) Money isn't value, money is a standard measuring yardstick for value. b) Since it's just a standard way to measure stuff, pretty much anything can be money. c) Modern fiat money like USD are IOU's from the government. They became a standard form of money because the government requires taxes to be nominated in these IOU's and because the government pays welfare and wages in them. d) Inflation is no big deal. It just means that your standard measuring yardstick becomes shorter over time. A logistical pain in the ass, but ultimately nothing that can't be dealt with.

TheOtherHobbes 8y ago
Money is about imbuing items - some of which may be intangible - with power and manna, and also about having an irrational faith that the power and manna will increase in the future. It's bean counting with imaginary magic beans, controlled by a priestly caste of imaginary magic bean rationers. Crypto was an attempt to create a different kind of imaginary magic bean controlled by a different kind of rationing.
- otabdeveloper1 8y ago
  > Money is about imbuing items - some of which may be intangible - with power and manna People will imbue all sorts of things with power and manna. (Video game highscores, or clothes, or the food you eat, etc. , etc.) Money is not special here. > It's bean counting with imaginary magic beans, controlled by a priestly caste of imaginary magic bean rationers. No. Fiat money (like the USD) are just IOU scrips from the government. No more magical or priestly than the IOU's you might give to your neighbor. Fiat money IOU's are special only because you need them to pay taxes.
- CPLX 8y ago
  The magic part about modern currency isn't the caste of the bean rationers. It's the number of guns they have. Money is valuable because the people with a monopoly on the legal use of violence say it's valuable. There are many of other things that are valuable because of their utility, like a sandwich, or some kind of agreed upon cultural intrinsic value, like gold, and many of those can be even used as a medium of exchange, but those things are not money.
bouncycastle 8y ago
Wow! I got the emotional talk-down tone... Looks like I spoke blasphemy against your money! Your reply is exactly the same type of reply one would expect from someone who is defending themselves by coming up with some quotes from the bible. The points that you gave me completely ignore my point. It's like I've said that Santa doesn't exist, but you've given me reasons for why Santa only delivers presents to kids only if they were good. All you have presented are the common "memes" that are used to prop up the shared delusion of national currencies. I can understand you - people don't like to have have their beliefs challenged, and will defend themselves vigorously if confronted. The irony here is that I also participate in this delusion daily, I too use national currencies, including the USD quite often. Although I never pay taxes in USD, certainly never receive any welfare from the US, don't care that it's "backed by guns" or an IOU, or whatever. I use them simply because there are people all around globe who believe in them.

TheOtherHobbes 8y ago

Money is about imbuing items - some of which may be intangible - with power and manna, and also about having an irrational faith that the power and manna will increase in the future. It's bean counting with imaginary magic beans, controlled by a priestly caste of imaginary magic bean rationers. Crypto was an attempt to create a different kind of imaginary magic bean controlled by a different kind of rationing.

otabdeveloper1 8y ago
> Money is about imbuing items - some of which may be intangible - with power and manna People will imbue all sorts of things with power and manna. (Video game highscores, or clothes, or the food you eat, etc. , etc.) Money is not special here. > It's bean counting with imaginary magic beans, controlled by a priestly caste of imaginary magic bean rationers. No. Fiat money (like the USD) are just IOU scrips from the government. No more magical or priestly than the IOU's you might give to your neighbor. Fiat money IOU's are special only because you need them to pay taxes.
CPLX 8y ago
The magic part about modern currency isn't the caste of the bean rationers. It's the number of guns they have. Money is valuable because the people with a monopoly on the legal use of violence say it's valuable. There are many of other things that are valuable because of their utility, like a sandwich, or some kind of agreed upon cultural intrinsic value, like gold, and many of those can be even used as a medium of exchange, but those things are not money.

bouncycastle 8y ago

Wow! I got the emotional talk-down tone... Looks like I spoke blasphemy against your money! Your reply is exactly the same type of reply one would expect from someone who is defending themselves by coming up with some quotes from the bible. The points that you gave me completely ignore my point. It's like I've said that Santa doesn't exist, but you've given me reasons for why Santa only delivers presents to kids only if they were good. All you have presented are the common "memes" that are used to prop up the shared delusion of national currencies. I can understand you - people don't like to have have their beliefs challenged, and will defend themselves vigorously if confronted. The irony here is that I also participate in this delusion daily, I too use national currencies, including the USD quite often. Although I never pay taxes in USD, certainly never receive any welfare from the US, don't care that it's "backed by guns" or an IOU, or whatever. I use them simply because there are people all around globe who believe in them.