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Joined 2 years ago
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Cake day: June 11th, 2023

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  • Money is anything that someone is willing to exchange for goods and services in a stable and semi-predictable way (i.e. you need to be able to plan ahead at least long enough to know if what you get for your current transaction, e.g. your paycheck, will be able to buy you what you need to buy in transactions in the foreseeable future) and that is easier to store and/or exchange than actual direct bartering (good/service for good/service directly).

    By that general definition most crypto currencies are not money because they are too volatile and transactions are too complicated and slow.

    But that is asking the wrong question. The real question isn’t “What is money?”, the real question is “What is value?”, as in why does money have value at all, what backs that value. Money only has value because a large amount of providers of goods or services with inherent value are willing to exchange those actually valuable things for your money. And the number of those can vary over time because supply or demand for a good or service increases/decreases.

    Most crypto-currencies are not equipped to deal with those fluctuations in the availability of actually valuable things by adjusting the money supply. Not to mention that the required money supply also depends on the velocity of money and how much people store away in savings and don’t touch at all.

    Or in other words crypto-currencies are an incredibly primitive attempt to solve a complex problem with a solution so simplistic it is not fit for purpose.


  • That theory was mentioned often in the early 2000s when most people stilled used pseudonyms online but it has been debunked since then by the many people who feel perfectly fine spouting the same kind of hate on social media under their real name and sometimes even in video form.

    Physical repercussions do not exist in the real world for anything but the most extreme of actions. If anything the culture of lying to each other’s face (a.k.a. being polite) and looking away when abuse happens makes abuse very common in the real world, just ask your average minority or retail worker.