anonymous on Nostr: It's not future labor. Money functions roughly as a store/proxy for (valuable) time ...
It's not future labor. Money functions roughly as a store/proxy for (valuable) time already spent. The whole fractional reserve thing dilutes the value as it grows the pool therefore reducing value per unit.
The future only comes into play when speculating on future outcomes. And I guess bullshit accounting like Enron's, although these correct themselves through (re)valuation.
Published at
2024-07-02 13:01:07Event JSON
{
"id": "9789d7a9382e760cf63eb3ebb1fd5713df0dcc3ce9c6ecab99a0692e06a731ec",
"pubkey": "707918de34e2473336eed90ea847f19db4751b7175d893642684a6aaaf4d9cce",
"created_at": 1719925267,
"kind": 1,
"tags": [
[
"e",
"2b20678802a55763ee11dcc99b11b55a3ed9a8c47906e7e503e5cfa43cc1f4ef",
"",
"root"
],
[
"p",
"a1fc5dfd7ffcf563c89155b466751b580d115e136e2f8c90e8913385bbedb1cf"
]
],
"content": "It's not future labor. Money functions roughly as a store/proxy for (valuable) time already spent. The whole fractional reserve thing dilutes the value as it grows the pool therefore reducing value per unit.\n\nThe future only comes into play when speculating on future outcomes. And I guess bullshit accounting like Enron's, although these correct themselves through (re)valuation.",
"sig": "31d30696d5c4a20f46a6950c535023258cd752c2ff897f6731cfd1e61500c370e549fd844160a30acc80f9ebadd110329792edad271e1e7bfa30a17b68033031"
}