Money: Difference between revisions
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A simple, but gravely misunderstood thing. | 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 | 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>“What do you need?” “Ford! We just needed to be held!” “You got the bonus plan.”</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. | ''Cash is not an asset. It is not property.'' Cash is is a token of abstract value. It cannot be owned, only held<ref>“What do you need?” “Ford! We just needed to be held!” “You got the bonus plan.”</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. | ||
{{seealso}} | |||
*[[client money]] | |||
*[[bank]] | |||
*[[bitcoin]] | |||
{{ref}} | {{ref}} | ||
Revision as of 12:07, 29 October 2018
- “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
- ↑ “What do you need?” “Ford! We just needed to be held!” “You got the bonus plan.”