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> wouldn't the diversification of the world's currencies be a good thing? It is not that simple. If an economy has a surplus, e.g. China, where does that surpl
by Theodores 8y ago
> wouldn't the diversification of the world's currencies be a good thing?
It is not that simple. If an economy has a surplus, e.g. China, where does that surplus go? This is why we have a default world currency whether that be silver, gold or petro dollars.
When you work through it a bit more the more you realise a basket of currencies won't work, unless every currency is essentially the same. Capital is like water, it flows.
I would like to see discussion on how we can move on from the currencies we have to a measure of energy. Everything can be measured in energy terms, why not cut out the abstractions?
- ainar-g 8y agoI used to play with an idea of a science fiction novel, where the united Earth's currency is essentially kcal/kJ. The problem is that if you have a flammable and radioactive material, do you count the energy you get from it by burning it, or the energy from throwing it into a nuclear fission reactor, or the energy of throwing it into a black hole in a particular angle[1]? [1]: https://www.youtube.com/watch?v=ulCdoCfw-bY https://www.youtube.com/watch?v=ulCdoCfw-bY
- Mvandenbergh 8y agoSince the prices of our main global energy source, oil and gas, are set in dollars, that energy unit is basically the dollar.
- ilaksh 8y agoI think for it to be fixed to any real thing (rather than imaginary points that people just keep arbitrarily adding to their databases) then you need a comprehensive way to globally measure that thing. My theory is that decentralized platforms may eventually provide a way for that to be feasible, but with current paradigms it is not.
- maxwell 8y agoCue Bitcoin maximalists explaining that it's effectively a "measure of energy."