JackTheMimic on Nostr: Yes #3 but I completely reject #4. By the Austrian logic, nothing is intrinsic, which ...
Yes #3 but I completely reject #4.
By the Austrian logic, nothing is intrinsic, which was the basis for most of the previous post.
Currency IS collateralized credit. That's what it is. Money is an asset that solves the coincidence of wants. It is a good not meant to be consumed. The 5 attributes of sound money are:
Scarcity
Verifiability
Divisibility
Portability
Durability
Currency is a technology that makes better the transactional functions of a money that has these attributes. The sole attribute of currency is that it is collateralized by the money. Bitcoin (like gold) is highly inefficient as a currency. I say Bitcoin is money not currency because it doesn't collateralize itself. All assets can be traded for goods or services, that does not make it a currency.
By the Austrian logic, nothing is intrinsic, which was the basis for most of the previous post.
Currency IS collateralized credit. That's what it is. Money is an asset that solves the coincidence of wants. It is a good not meant to be consumed. The 5 attributes of sound money are:
Scarcity
Verifiability
Divisibility
Portability
Durability
Currency is a technology that makes better the transactional functions of a money that has these attributes. The sole attribute of currency is that it is collateralized by the money. Bitcoin (like gold) is highly inefficient as a currency. I say Bitcoin is money not currency because it doesn't collateralize itself. All assets can be traded for goods or services, that does not make it a currency.