Money

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“I don’t need money. I need questions answered.
Question number one: Can I have some money?”
Ford Fairlane

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.


References

  1. “Ford! Ford! We only wanted to be held!” “Well, you got the bonus plan.”