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Editor: DonovanBaarda
Time: 2019/01/21 17:58:31 GMT+11 |
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changed: - Does the world really need a DigitalCurrency? ============================================= TLDR; Maybe, but probably none of the ones we currently have. Note I'm going to focus on digital currencies as an alternative to fiat currencies, not any of the other applications of the related technologies like blockchains, distributed ledgers, smart contracts, etc. What is the point of money? --------------------------- The point of money is it helps human cooperation to expand beyond our `monkeysphere limits <http://www.cracked.com/article_14990_what-monkeysphere.html>`_. It is one of the technological innovations that allowed trade to expand beyond our normal trust limits, and trade is cooperation. What are the functions of money? -------------------------------- Money does this by providing the following functions; 1. a measure of value. 2. a What are the Characteristics of money? -------------------------------------- Money is not real wealth, it is just a symbolic token for real wealth. Any currency is actually collateralized by everything you can buy with it. current cryptocurrencies focus on "how" currencies work, and brag about how their cryptocoin is a better implementation of the attributes of money than fiat money. They ignore "what" functions currencies serve, and even more important, the "why" we even need this. b
TLDR; Maybe, but probably none of the ones we currently have.
Note I'm going to focus on digital currencies as an alternative to fiat currencies, not any of the other applications of the related technologies like blockchains, distributed ledgers, smart contracts, etc.
The point of money is it helps human cooperation to expand beyond our monkeysphere limits. It is one of the technological innovations that allowed trade to expand beyond our normal trust limits, and trade is cooperation.
Money does this by providing the following functions;
Money is not real wealth, it is just a symbolic token for real wealth. Any currency is actually collateralized by everything you can buy with it.
current cryptocurrencies focus on "how" currencies work, and brag about how their cryptocoin is a better implementation of the attributes of money than fiat money.
They ignore "what" functions currencies serve, and even more important, the "why" we even need this.
b