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According to Hacker Noon (This article and its images were originally posted on Hacker Noon November 18, 2018 at 04:46PM.)
TLDR: Money is a tool for recording value exchanged among economic participants. One way to record such value is in a digital ledger. Bitcoin is the first digital ledger to figure out how to prevent the State from destroying it. Bitcoin’s deflationary monetary policy provides an alternative to state-fiat money’s inflationary paradigm.What is money?Money is art. Money attempts to transport one person’s subjective experience into another’s mind: the experience of valuing something. However imperfectly, money lets one person answer another: How much is this worth to you?
Money is true speech. The payment of money for some good is a claim about how much I value that good. It cannot be faked because the act of payment requires a commensurate sacrifice of value. Any business trying to charge for a product understands the difference between a user’s white lie “I value this” and the customer’s true claim “I value this” proven with payment.
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