• metaStatic@kbin.earth
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    18 hours ago

    Money as a unit of account was only necessary for governments to pay soldiers because the real system of exchange before coin was favours (not barter) and a stranger with a weapon couldn’t be trusted … but their gold could.

    Crypto is trying to solve a problem that doesn’t exist, money was never a product of the free market and without the violence of the state standing behind it can never be stable enough to serve as a store of value.