Shell: 100000+ yrs Gold wearable: 3800 Gold & silver coin: 2400 Paper IOUs for gold & silver: 250 Pure fiat: 47 Cryptocurrency: avail. now
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Gold and crypto are not money, they are assets. Shells are tokens sometimes used to represent money. Fiat / credit is money.
You can only come to such a conclusion by tautologically defining "money" that way. An idiotic way to define "money."
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When you don't agree with something, how about just saying "I don't agree" rather than "that's idiotic" :-)
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We need to go beyond debating the meanings of words, and say what we mean. Eg
@NickSzabo4 concerned only with liquid commodites, not credit. -
Yes, monetary theory lacks a set of standard definitions. Precisely defining the meaning of words = first step in any scientific enquiry.
End of conversation
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Fundamentally, money must be such that people want to let go and exchange with goods. Crypto doesn't have that property "yet" because of appreciating in value (factor out tax evasion incentives). Fiat (or bad money) is money as long as there's government.
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