to try and simplify money

yes — money is an instrument of exchange, but being more precise it is a token of energy exchange. And that is all it is

this is what i tried to explain in my last comment

money of itself has no value — -you cannot eat money, you can burn paper money to keep warm if you have enough, but that just releases energy locked up in the paper. You then can’t use it for anything else

it only has value when you exchange it for energy, or an object that has embodied energy contained within it

this might be a loaf, a bottle of wine, a car, a house

the actual object is irrelevant — it is the energy contained within it that matters. A car has more energy value locked into it than a loaf of bread — -unless of course you are starving to death. Then the equation might be different. The “value’ factor being your life. You can’t eat your car.

Doesnt matter how valuable people think bitcoin is — -if it cant be exchanged for energy-embodied ‘stuff’, then ultimately it has no value at all

co-author of The End of More, in paperback and kindle on Amazon http://www.amazon.co.uk/dp/B00D0ADPFY email pagett.communications@blueyonder.co.uk

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store