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by cheeseomlit 1179 days ago
Money is a convenient means of exchange and valuation, I don't see the reason why my membership in society (node or cell in larger organism) should require that means of exchange to be imaginary- and I disagree that intrinsic value does not exist, though it may vary in the eye of the beholder. If I approach this stone-age tribe from your example and attempt to trade with them they will not accept my dollars for their goods- to them my dollars are kindling at best. Very little intrinsic value. But a physical commodity perhaps they would accept because it has some actual real-world use to them. Why should one party trade actual useful goods and services in exchange for imaginary numbers? Wouldn't it make more sense for trade real goods for real goods, provided one party's goods are viable for monetary use and can be reliably used as a means of valuation?

I won't argue that imaginary units of money are a powerful tool, they certainly are. So powerful in fact that there is no human on this earth who can be trusted to administer it without rampant abuse. The history of centralized planned economies speaks for itself, and I don't think further consolidation under CBDCs with more 'granular control' is going to improve its track record. The physical limits that constrain the use of commodities as money are what make it a viable as currency, it's a feature not a bug