@white_male @Tfmonkey @VeganMGTOW @BowsacNoodle
Useful & Rare = More Valuable
Rare & not useful = Not Valuable
Common & not useful = Not Valuable
Blockchain money, paper money & electronic money are not valuable
The only value in paper & electronic money is paying taxes as a token to avoid going to jail
Without taxes paper & electronic money has no use and therefore nno valuee
Valuable for their usefulness.
>The only value in paper & electronic money is paying taxes
That's just retarded. Fiat usefullness is in abstracting cost from barter. How the fuck are you going to implement factories that need thousands of different material inputs?
>Without taxes paper & electronic money has no use
Abstracted value transfer. Also enables accumulation of wealth for large projects.
@white_male @Tfmonkey @VeganMGTOW @BowsacNoodle
You pay factory workers in Asia manufacturing electronic goids in bags of rice
They can trade rice for electronic goods they want to purchase or they can eat it
@white_male @Tfmonkey @VeganMGTOW @BowsacNoodle
I do not have a problem with gold because you can make tools to use out of gold
If you take a gold coin and change the words and numbers printed on it but it has the same mass it is worth the same amount
If you change the words and numbers printed on paper money but it has the same mass then it's value changes
Does the ink or the paper make it valuable. Is it worth more if more ink is printed on the same paper to make the number bigger?
@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
Guys, you gotta brush out on the history of fiat money. Originally it was a simple securities contract (certificate of deposit) of a determined amount of gold/silver.
So even when using fiat money, what was being traded was gold stored in the vault that the holder could claim back at any branch of that bank.
Fiat money as we know today is not money barely a currency, it's not even paper anymore. It's just a number on a ledger.
@Zeb @BowsacNoodle @Tfmonkey @VeganMGTOW @white_male
But they issued out more weight in gold in the total value promised in paper money than there was actual gold in the bank which was fraud
That is why I mentioned about simply changing the ink configuration on paper money to change it's trade value even though it was the same amount of paper
@shortstories @BowsacNoodle @Tfmonkey @VeganMGTOW @white_male
True, agree. The fraud was the problem and the bankers (specially central ones) should have been hanged on the spot.
@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
I didn't get it. Why would a country with a gold-backed currency hoard a debased foreign fiat currency?
They would sell most of the foreign shit currencies since their currency is already stably anchored against gold.
@Zeb @BowsacNoodle @Tfmonkey @VeganMGTOW @white_male
In order to get around this fraud I suggest in the future alternate currencies should only be things you would be content with being stuck with if no one would trade for them
So that both people only get things they would want in the trade