Money: Difference between revisions
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It is misunderstood by tech people ([[bitcoin]] isn’t cash; it’s a fraudulent asset); by people who ask for [[client money]] protection from a [[bank]], and those who aspire to take [[Security interest|security]] over it. | It is misunderstood by tech people ([[bitcoin]] isn’t cash; it’s a fraudulent asset); by people who ask for [[client money]] protection from a [[bank]], and those who aspire to take [[Security interest|security]] over it. | ||
''Cash is not an asset. It is not property.'' Cash is is a token of abstract value. It cannot be owned, only held<ref> | ''Cash is not an asset. It is not property.'' Cash is is a token of abstract value. It cannot be owned, only held<ref>“Ford! Ford! We just needed to be held!”<br>“Well, you got the bonus plan. Ohhh”</ref> — which is another way of saying whoever holds it owns it, outright, against all the world. They can’t futz around with your interests to it, you can’t declare a trust over it, pledge it, or hold it for anyone other than your self. | ||
Revision as of 09:02, 9 February 2019
- “I don’t need money. I need questions answered.
- Question number one: Can I have some money?”
- —Ford Fairlane, in The Adventures of Ford Fairlane, Rock ’n’ Roll Detective
A simple, but gravely misunderstood thing.
It is misunderstood by tech people (bitcoin isn’t cash; it’s a fraudulent asset); by people who ask for client money protection from a bank, and those who aspire to take security over it.
Cash is not an asset. It is not property. Cash is is a token of abstract value. It cannot be owned, only held[1] — which is another way of saying whoever holds it owns it, outright, against all the world. They can’t futz around with your interests to it, you can’t declare a trust over it, pledge it, or hold it for anyone other than your self.
See also
References
- ↑ “Ford! Ford! We just needed to be held!”
“Well, you got the bonus plan. Ohhh”