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To: Rockingham

Nope you don’t know how money work. You know about the laws we currently have around money. But that’s not how money works.

You need to look at the long history of money. What has been money over the millennia. Understand what all those things have in common. Understand WHY they were money.

When you do you will know that the “full faith and credit” is just another illusion piled onto it to help give people belief.

As I’ve said to you multiple times the last few days: BELIEF. That’s what give ALL money power. The only thing government backed crypto will gain is people like you. That lie will convince people who don’t understand money crypto is useful. Meanwhile, crypto is already useful.


85 posted on 12/27/2023 7:23:38 AM PST by discostu (like a dog being shown a card trick)
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To: discostu
Good grief. You scorn crypto backed by hard assets -- but swoon and quiver with passion over crypto NOT backed by hard assets and think that it is superior and transcends current legal tender laws.

You are, of course, correct in the abstract that money in the broadest sense can take any form. But money in modern life and commerce is characteristically fiat money backed by government and by legal tender laws. In addition, gold has such intrinsic value that it is often made into both official coinage and bullion coins. Yet even gold fluctuates in value.

In all sincerity, for your sake, please look carefully before you spend money on crypto -- or any other form of investment, for that matter. You may think that I am wrong about crypto, but can you be absolutely, one hundred per cent certain that I am wrong?

87 posted on 12/27/2023 9:35:16 AM PST by Rockingham (`)
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