3 ms·
Money is much older than agriculture. Recognizable money-like grave goods, in the form of shells of a consistent size with holes for stringing, date back 80,000
by samatman 5y ago
Money is much older than agriculture. Recognizable money-like grave goods, in the form of shells of a consistent size with holes for stringing, date back 80,000 years.
That's about is Lindy as it gets. I'm dubious of anyone who supposes we can "rethink society" to make money less crucial. It seems simpler to assure that anyone who doesn't have enough money gets some.
It's a dangerous experiment we're running, to have all currencies in the modern world be government-issued paper. Such currencies have a known and spectacular failure mode, which continues to happen right now, and "it can't happen to us" is just a bet, not a law of nature.
I'm glad that cybercoins exist, as a hedge against that occurring. Gold is the old standard, but difficult to transfer other than hand-to-hand.
Maybe it won't happen, perhaps Modern Monetary Theory is perfectly correct and the Fed and ECB will keep on trucking indefinitely with a manageable and smooth inflation curve. I'd prefer that, of course, a currency collapse tends to be a regime-ending event as often as not, and it's bad for commerce, which I need in order to eat, clothe myself, and travel more than about ten miles in a day.
But I'm grateful that there exists at-least-one distributed and uncensorable way to "track who owes what to whom". We might all be grateful for it one day. Or we might not.