Isn't all money fiat?
this post was submitted on 03 May 2025
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Anything that isn't is just bartering.
Yes, or backed by actual PMs or other high-value assets. Which actually makes me wonder if those aren't fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
I can see an argument for considering them fiat. The value of "high-value assets" (e.g. gold) comes from the assumption they'll retain their value even if things get drastic, not from being immediately useful (e.g. alcohol) or necessary to survive (e.g. water).
PMs
Zero clue what the acronym means in this context.
Precious metals. My point is, artificial scarcity means artificial value.
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Ever since we understood actual scarcity of mineral deposits across Earth, yeah
Wow I was with him at first lol
Wow, Bitcoin was the solution for that. That is a first. Might have found a first real usecase.
Wow, coiners tried to parasitize YIMBY while I wasn't paying attention?