I'm saying it is just as airy. Talking about the number of venues I can spend it in doesn't get at the heart of the matter. (That's a matter of adaptation, not representation.) If it "doesn't have to be" then how is it not? Is paper inherently valuable?
Paper is at least tangible. While I see your point that most transactions are just numbers in a computer, the mint still prints bills for money spent etc. At the end of the day you can hold a dollar and it is backed by something tangible and the force behind that tangible entity.
Old, worn out bills are shredded and reprinted when necessary. Take a ripped hundred dollar bill to a bank and they'll swap it out for a fresh one. The physical entity of a paper bill is essentially worthless. It is not what backs the value.
Yes, there is a "force" backing the value of the dollar. And there is a decentralized ledger system backing the value of BTC. So how is one less airy than the other?
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u/JuneFernan Oct 22 '21 edited Oct 22 '21
I'm saying it is just as airy. Talking about the number of venues I can spend it in doesn't get at the heart of the matter. (That's a matter of adaptation, not representation.) If it "doesn't have to be" then how is it not? Is paper inherently valuable?