2 ms·

Non-transferable tokens aren’t going to be a successful replacement for money

• sudosysgen 6y ago
  In a capitalist economy certainly not.
  • edgyquant 6y ago
    In any economy that isn’t post-scarcity dude, money wasn’t invented by capitalists nor was the idea of an exchange.
    • sudosysgen 6y ago
      No, modes of rationing and discovering preferential subjective values are necessary. That does not imply what is meant with money, which is infinitely durable, portable, fungible and uniform. Already rationing systems which do not fit the definition of money are being employed. For example in the post-pandemic period the PBoC has issued consumption tokens with an expiration date. You are simply confusing the idea of a scarce token with money. Money is in the former category but the former category is not money. The necessary function is to translate consumer preferences into numeric terms. For this fungibility and durability is not necessary.