Safe-money: Money in the type system where it belongs (2017)
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Re: Safe-money: Money in the type system where it belongs (2017)
#2> Money, in other words, mostly measures trust. This is less obvious for precious metals or cryptocurrencies because they have an intrinsic value of their own as well
Cryptocurrencies have intrinsic value? Did the author intent to write that or was it an accident? S/he has grouped precious metals, which have purposes from engineering to jewellery - with solutions to arbitrary cryptographic problems, which are useless for everything except swindling.
Re: Safe-money: Money in the type system where it belongs (2017)
#3> Interestingly, the value of most currencies is measured in terms of the value of other currencies, most of which have no value other than the trust recursively vested in them by civilization.
This doesn't make any sense. The value of any currency is measured constantly by its users conducting trades: when you buy a coffee, you're measuring the value of the currency used; when you pay for a haircut, you're measuring the value of the currency used. That is far more frequent and larger than FX trading.
Re: Safe-money: Money in the type system where it belongs (2017)
#4> Interestingly, the value of most currencies is measured in terms of the value of other currencies, most of which have no value other than the trust recursively vested in them by civilization. This doesn't make any sense. The value of any currency is measured constantly by its users conducting trades: when you buy a coffee, you're measuring the value of the currency used; when you pay for a haircut, you're measuring…
What is the value of a coffee or haircut? How many coffees is a haircut worth?
Re: Safe-money: Money in the type system where it belongs (2017)
#5> Interestingly, the value of most currencies is measured in terms of the value of other currencies, most of which have no value other than the trust recursively vested in them by civilization. This doesn't make any sense. The value of any currency is measured constantly by its users conducting trades: when you buy a coffee, you're measuring the value of the currency used; when you pay for a haircut, you're measuring…
What is the value of a coffee or haircut? How many coffees is a haircut worth?
However many you're willing to give, thats the point.
Re: Safe-money: Money in the type system where it belongs (2017)
#6> Money, in other words, mostly measures trust. This is less obvious for precious metals or cryptocurrencies because they have an intrinsic value of their own as well Cryptocurrencies have intrinsic value? Did the author intent to write that or was it an accident? S/he has grouped precious metals, which have purposes from engineering to jewellery - with solutions to arbitrary cryptographic problems, which are useless…
>which have purposes from engineering to jewellery
Isn't using crypto as a currency equivalent to using precious metals as jewellery? Something like <10% of gold is used for industrial purposes and the rest is jewellery (superfluous personal adornment) and investment (value-storage). But compared to something like gold, cryptocurrencies at least have some valuable characteristics when used as an investment or financial tool: verifiable transactions, low-transaction cost, etc.
Re: Safe-money: Money in the type system where it belongs (2017)
#7> Interestingly, the value of most currencies is measured in terms of the value of other currencies, most of which have no value other than the trust recursively vested in them by civilization. This doesn't make any sense. The value of any currency is measured constantly by its users conducting trades: when you buy a coffee, you're measuring the value of the currency used; when you pay for a haircut, you're measuring…
What is the value of a coffee or haircut? How many coffees is a haircut worth?
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Re: Safe-money: Money in the type system where it belongs (2017)
#8> Money, in other words, mostly measures trust. This is less obvious for precious metals or cryptocurrencies because they have an intrinsic value of their own as well Cryptocurrencies have intrinsic value? Did the author intent to write that or was it an accident? S/he has grouped precious metals, which have purposes from engineering to jewellery - with solutions to arbitrary cryptographic problems, which are useless…
The intrinsic value of a cryptocurrency is in its utility: moving an accounted and measurable unit across the internet peer to peer.
Re: Safe-money: Money in the type system where it belongs (2017)
#9Here's a (partial) porting to TypeScript https://github.com/gcanti/money-ts
Re: Safe-money: Money in the type system where it belongs (2017)
#10> Interestingly, the value of most currencies is measured in terms of the value of other currencies, most of which have no value other than the trust recursively vested in them by civilization. This doesn't make any sense. The value of any currency is measured constantly by its users conducting trades: when you buy a coffee, you're measuring the value of the currency used; when you pay for a haircut, you're measuring…
Well the author was also pointing out that currencies like the Barbados Dollar exist, whose exchange rate is pinned at BDS$2 = USD$1.
A quick search for pinned currencies brought up this nice list: https://www.investopedia.com/articles/forex/061015/top-excha...