governments' fear of cryptocurrencies comes from the same place as our fear of fake news. counterfeit things threaten the status quo because they expose the truthiness in what we usually call real anxieties about "fake news" exist because, in some ways, all news is fake
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all news is "fake" in the sense that all news is *incomplete* writing an article always involves leaving something out. reporting is curation, it's editing, it's what gets left behind on the cutting room floor. there's no escaping the fact that you're always inside of a frame
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bitcoin woke up a whole bunch of people to the idea that money is in some ways a shared fiction, a magical object, a socially constructed reality this awareness is itself a threat to the status quo -- a queering of a thing that used to be mostly normal, straight, unquestioned
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Replying to @aaronzlewis
When I first got into crypto 2 years ago it was a fun opportunity to learn and think about the philosophy of money. It's surprisingly hard to to give a really complete answer to the question "why is money valuable?"
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It's not entirely just "because other people think it's valuable," e.g. you can use money to pay taxes and legally settle debts; there's all this legal apparatus around "legitimate" money. Beginning of this @matt_levine column is relevant:https://www.bloomberg.com/opinion/articles/2019-06-18/facebook-will-make-the-money-now …
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