If they (and you) read up on what travelers, missionaries, & ethnographers actually witnessed & recorded of recently contacted cultures, you will find that SoV & medium of wealth transfer long preceded record-keeping. See https://twitter.com/NickSzabo4/status/954225789129469952 … & refs in the linked articles.https://twitter.com/mikejcasey/status/981141578285805569 …
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What’s the point of having a pile of cash?
There is a crucially important need people have to securely save for future needs instead of spending instantly or going into debt which brings its own raft of problems, personally & for the wider economy. It's a much weaker point if it's a pile of inflationary fiat currency.
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I agree, saving a pile of fiat is not storing value, more like storing a depreciating asset.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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i was referring to the more philosophical aspect of having a SoV or wealth transfer mechanism without record-keeping. Maybe it's me being old fashioned because transacting with a chunk of gold and no records is fine, but not with a private key and no records.
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I agree with you 100%! With digital money scarcity would not exist without record keeping.
End of conversation
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