David Lyga
Member
Some years ago, when I had an interest in economics, I decided that money - whether gold/silver/other metal, pieces of paper, or big rocks on Easter Island - is best thought of as a storage mechanism for human labor.
One of the few 'good' things that the Nazis did was to salvage the devastated German hyperinflation currency by basing their new currency on 'hours of common labor' instead of (non-existent) intrinsic value. That is an idea that merits attention and would help to remove the 'fiat' pejorative from money (or, should I posit "money"?).
I am not an economist but, certainly, that's better to think about than that bit of a coin known as 'bitcoin', whose value is determined solely by hype (and hyperbole). - David Lyga