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Also, this digital debt tracker uses numbers, which most of these communal debt systems do not do. Because different people put different value to things, track
by 317070 6y ago
Also, this digital debt tracker uses numbers, which most of these communal debt systems do not do. Because different people put different value to things, tracking debt in numbers is not how it is done (the book goes in a lot of detail how this works). This is what makes bitcoin a currency, a way to track debts rather than having them implicit.
I'm not sure where on the globe you are at, but where I am from, groups of friends buy rounds of beers at the bar. You do not keep track of whose turn it is to pay the round or whether someone is buying more expensive stuff, but since you are friends you make sure things are fair over time. But implicitly, not tracking numbers and accounts.
And Graeber argues that that is actually the method that predates currency. Not barter.
I fully agree on the hilariously large "primordial" debt we somehow owe the early miners.