Yes, but money is an abstraction by itself, and is a separate discussion as such. Money should be the abstraction of unfulfilled/unfulfillable needs in a trade. (Farmer selling cow to the mason, but not in need of building at this moment, but he needs a car)
Fiat is the abstraction of money. 🤔
The 'common goods' that governments commission is paid with perpetual debt, which is loaded upon the later generations. So the abstraction of fiat is to the value it should represent. That is where gold and Bitcoin come in.
One could even consider the o so famous Rai stones as even a less abstracted money than Bitcoin. For ir is for everyone clear that the abstracted favor is owned by/owed to the holder of the Rai 🤭
Soulexporter
npub1l6…tdl44
2024-08-20 15:01:32
in reply to nevent1q…mf7s
Author Public Key
npub1l6eva7lqf7fn79w6pqp5x64x9ja2emapevp67yn4hxkdz6s5yvxs3tdl44Published at
2024-08-20 15:01:32Event JSON
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"content": "Yes, but money is an abstraction by itself, and is a separate discussion as such. Money should be the abstraction of unfulfilled/unfulfillable needs in a trade. (Farmer selling cow to the mason, but not in need of building at this moment, but he needs a car)\n\nFiat is the abstraction of money. 🤔\nThe 'common goods' that governments commission is paid with perpetual debt, which is loaded upon the later generations. So the abstraction of fiat is to the value it should represent. That is where gold and Bitcoin come in.\n\nOne could even consider the o so famous Rai stones as even a less abstracted money than Bitcoin. For ir is for everyone clear that the abstracted favor is owned by/owed to the holder of the Rai 🤭\n\n",
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