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Money is either a hard-to-forge representation of the value of a variable in a distributed algorithm, or a claim on a share of the total output of the economy.
by eagleed 1y ago
Money is either a hard-to-forge representation of the value of a variable in a distributed algorithm, or a claim on a share of the total output of the economy. It is a coordination tool, not "condensed time". It doesn't have any inherent value in isolation, and you can't eat it any more than you can eat political power.
What it can do is incentivize certain behavior by playing part in the distributed algorithm. But adding more tokens to the supply does not by itself make the economy produce more.