Words
90
Reading
1 min
Listen
Play
4y
It is all currency. The value only occurs when another person recognizes that whatever the currency is, that it can be accepted for real world goods. All of it is fake and all of it is real at the same time. Fiat drops to nothing in some countries so it was never real? And crypto holds value in those countries, so it is real there? If you want a long term currency, stack up candles, guns, and canned goods. At some point, everyone wants at least one of those items.
RE: The need to count wealth in fiat?