Most People Have Absolutely No Idea How Money Actually Works

They don’t understand how cryptocurrency works either

$100 USD on fire — photo credit

Modern money is broken.

It’s rapidly losing its purchasing power due to purposeful inflation.

Younger people are blindly migrating their trust to cryptocurrencies.

Governments are scrambling.

Technologists are innovating.

The battle is raging.

Fiat vs. crypto.

Government vs. private.

Control vs. autonomy.

And both sides are wrong.

The first thing we need to understand about money: All currencies are notional, representational, and inherently worthless.

Technically speaking, I’m a trillionaire.

I own a Zimbabwaen $100,000,000,000,000 note.

I bought it five or six years ago for a couple of bucks.

$100 Trillion Zimbabwe Dollars — Wikimedia Commons