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"Virtual money" is an oxymoron. Is a dollar in a bank account more virtual than a dollar bill or less virtual than a bitcoin?
by diego 5y ago
"Virtual money" is an oxymoron. Is a dollar in a bank account more virtual than a dollar bill or less virtual than a bitcoin?
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- dumpsterdiver 5y ago> "Virtual money" is an oxymoron. Is a dollar in a bank account more virtual than a dollar bill or less virtual than a bitcoin? I believe it's closer to a tautology (opposite of oxymoron, and by "closer" I mean that it doesn't stricly qualify as a tautology, but I believe that's the direction you intended), right? Because money is nothing more than a promise that people believe in. The value of money is entirely dependant upon people's confidence that they will be able to exchange it at some point for real goods. Does anyone else remember as a kid giving your parents "coupons" that they could redeem for services later ("Two free lawn mowings")? If your parents believed that they could redeem those pieces of paper scribbled by a child, then that was "real" currency.