Fiat money - the idea that we can and should create money from thin air - is simply saying, "I know better than the market how to allocate money", which is to say to know better than everyone else what is good and what is bad, what is valuable and what isn't, what is necessary and what is superfluous.
The question that the fiat system answers is the following: who is allowed to counterfeit currency, and how much? Further, who is allowed to have access to money, and who isn't?
Gigi (npub1der…xzpc) getting to the root of things (again) in https://www.citadel21.com/bitcoins-meme-wars
OneBigLife / One₿igLife
npub1dv…zypmm
2023-03-28 08:24:19
Author Public Key
npub1dvnf7m37lqws7edyk2n4ve5wczg75xyxl4f37w7q9452chxtts9q9zypmmPublished at
2023-03-28 08:24:19Event JSON
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"content": "Fiat money - the idea that we can and should create money from thin air - is simply saying, \"I know better than the market how to allocate money\", which is to say to know better than everyone else what is good and what is bad, what is valuable and what isn't, what is necessary and what is superfluous.\nThe question that the fiat system answers is the following: who is allowed to counterfeit currency, and how much? Further, who is allowed to have access to money, and who isn't?\n\n#[0] getting to the root of things (again) in https://www.citadel21.com/bitcoins-meme-wars",
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