To summarize this view, the foundation of the human economy is built on bartering and swapping for mutual benefit: it makes us human, and let us specialize. Money and coinage evolved as an abstract representation of scarcity, in order to facilitate that bargaining. And then credit and banking evolved on top of that.

Crypto is valued the way money is valued: by beliefs, reflexivity, scarcity, and collateral utility.

Money is not a business.

Money is not a network product.

Money is a coordination technology with:

•reflexive trust

•role in collateral hierarchy

•function as energy storage

•function as global settlement rail

•macro-hedge dynamics

•political neutrality... See more