04 Aug Market Value. Marketable Values. Musk. Winkelvoss.
Elon Musk: “Goods & services are the real economy, any form of money is simply the accounting thereof”
Winklevoss: “Goods and services, yes. And absolutely anything and everything else (at least) two parties can value and can feasibly quantity.“
Money is the universal medium of exchange, in trust.
Value is stored therein.
Price is a perpetually evolving market exchange bond, defined by supply, demand, authority (power) and faith (confidence).
Currencies are parochial symbols of money equivalency, each with its own particular story (origin, popularity, stability, diversity, support network, grift traditions, regulations, interchangeability, etc).
“Bitcoin? It’s mass hypnosis. It’s a crazy crowdfunded faith, almost like a religion…“
Cryptocurrency is mass hypnosis. It is crowdfunded faith. What’s more, it seems to be most religiously supported by a higher than average proportion of citizens with libertarian values and ready-made domestic arsenals.
Thinking about it, however, perhaps those fiercest crypto activists should feel somewhat threatening… Because those mass hypnosis and faith fundamentals are 100% true of the fiat $€£ currency world too.
The Fed/Treasury can print currency forever.
The economy will never crash.
Salary and savings will never become worthless.
These mantra get repeated across a thousand propaganda sources every day, all around in the world. Populations are already trained into mass hypnosis. It’s stinky another flavor of crowdfunded faith. Fiat, crypto: same confidence tricks, same smoke and mirrors.
But we know fiat is a rigged game. We know as individual citizens we’re exploited and extorted. We know economies can crash and burn. And we know if that happens, the ruling government elites will save their own class (and wealth) at our expense.
This rigged game may explain the real non-bullshit difference between fiat $€£ and crypto: fiat currency has to be backed by authoritarian police forces and professional soldiers. With vast centralized arsenals.
See, the governments don’t trust solely in our habituated faith. They know who’s to be winners and losers in the rigged exploitation game; better than anyone. So the fiat treasuries of the world ringfence public compliance with an aggressive monopoly on law and mass violence. (Real violence, that is; not merely some vague in-person libertarian heckling.)
You don’t get a choice with fiat. Even countries aren’t given much freedom on the fiat exchanges. “Play the rigged game or be punished, fucker.” It’s important to state. Simple. Clear. People need to know the difference between fiat oligarchy and crypto insurgency. We need to understand the stakes and the stakeholders, to understand the scale of the coming cryptocurrency opposition.
Governments – especially the most corrupt and the most hegemonic, defenders (enforcers) of the fiat oligarchies – WILL escalate to violence. Financially, legislatively, militarily. It will be as subtle as possible. Military violence will be kept as foreign as feasible. But as the perceived threat from crypto grows, as its popularity & penetration disrupts the profit and power dynamics of our ruling plutocracies, there will be violent reaction.
How this violence plays out is unpredictable and complex, but anyone who’s expecting decentralized transparent democratized currency to replace feudal-money without violent struggle is a more deluded fool than any proselytizing Bitcoin zealot.