4 ms·
A lot of people are going to come in and say that money isn't real. Which is true. But I like to think in boolean and float terms. 0 is not real. 1 is real.
by bgroat 5y ago
A lot of people are going to come in and say that money isn't real.
Which is true.
But I like to think in boolean and float terms.
0 is not real.
1 is real.
Cash in a reserve currency is ~0.9
Visa/MasterCard are also ~0.9
BTC is probably around 0.7
A shit coin is <0.5
Which is to say, it isn't real. You're right - that's not a useful stance, and all of the unreal things aren't therefore equally "real"
- canadaduane 5y agoI think a better categorization is to split things into "socially constructed reality" and "physical reality". Two types of "real". Money and God are solidly in the "socially constructed reality" type of "real." Light and Gravity are in the "physical reality" type of "real." Things in the "socially constructed reality" category depend on network effects--who believes and upholds the truths within your network. That might map to your "float" values, as not all currencies are upheld by unanimous agreement within various networks.
- stormbrew 5y agoThere is a physical manifestation of something that we describe as light or gravity, but our understanding of those things is, in fact, socially constructed just like "money" (or really, an economy) is. We have an imperfect model of what both light and gravity are and we use that model to describe things we observe, but the map is not the territory and it's actually incredibly important to understand that. In all three kinds of things, belief that something is true -- even mass, near unanimous, collective belief that it is -- does not make it so. That was true for Newtonian physics and gravity as it is for, say, the idea that "interest rates and inflation are connected."