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Hard money can expire, sort of. Hard money is a contract with generalized civilization that only has value so long as civilization continues to organize and co
by anonporridge 3y ago
Hard money can expire, sort of.
Hard money is a contract with generalized civilization that only has value so long as civilization continues to organize and complexify our resources. A $1 silver dollar coin still has a lot of objective value because civilization still provides lots of good and useful stuff for us to consume.
- mikewarot 3y agoIf we get to the point where a silver dollar has no value, we're either in a Star Trek where you can make as many as you want, at no cost... or we're past Nate Hagen's "Great Simplification", and worse off than the dark ages... Younger Dryas catastrophe level stuff
- verall 3y agoOr a huge cache of cheaply minable silver is found, or some fancy technology to extremely cheaply extract silver from the tailings of another resource, or a government decides to dump silver reserves onto the market to destabilize some economy somewhere. I fully agree that the value of silver is very unlikely to crater but it's not exactly Star Trek unlikely.