>If enough people think rice bags or pressed and aged tea is money, then it is. No, commodity money typically has a variety of practical functions and its func

>If enough people think rice bags or pressed and aged tea is money, then it is. No, commodity money typically has a variety of practical functions and its function in an exchange system is born out of necessity. Not arbitrarily because people want to start doing accounting that way. I don't understand why people repeat this. It's not clever or insightful, and worse it's definitely not correct. It's gravely concerning that presumably basically educated people tout this line without a second thought when it comes to cryptocurrency. Cryptocurrency finds its value purely out of someone hoping someone else will be left holding the bag, not because it's useful.