Scale matters

As an abstraction or a concept or something, money is this superposition of a medium of exchange and a store of value.  It has value because it is exchanged; if it stops being exchanged, the value goes away.  If it doesn't have a sovereign to protect it—to guarantee a certain predictability and consistency of exchanges against all comers—the value goes away, too, quite possibly because the
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Published on July 01, 2022 22:30
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Graydon Saunders's Blog

Graydon Saunders
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