4 ms·
> CREDIT, not MONEY What's the difference?
by cabalamat 13y ago
> CREDIT, not MONEY
What's the difference?
- nickbauman 13y agoNone, of course; except perception. People perceive money to be something of intrinsic value (Or that it _should_ be that. Krugman's complaint about arguing normative versus positive is at play here, for sure). People perceive credit as merely a record of a debt. The gold-standard freaks seem to not understand this non-difference. A large subset of folks who ideologically back Bitcoin also indulge in this fantasy.
- lectrick 13y agoIf I lend you 20 bucks (money), "credit" is the belief I have that I'm going to get it back from you.