Fiat?
it's value is in that which we give it
money is now cars :)
https://www.investopedia.com/terms/f/fiatmoney.asp
Oooo
it's value is that which we say it has
It has no physical backing
So basically the only thing that would be a valuable currency is if I traded goods I'd made/collected for something that I needed?
if I say it's a currency, it's a currency
currency != money != valuable
all of these things are indy from each other
It's literally just magical numbers, magic money.
Which is why bottle caps are used in fallout
No value, no meaning, no backing.
mmhmm
Nah that's another reason @James Rimor
well, they do have some backing, because they do hold gold and silver etc
but it's not directly backed
so, it's value isn't tied to the thing
That's just something you can trade with them
Yeah
@Weez well ye that nuclear apocalypse probably had something to do with it as well π
In Fallout, bottlecaps were used because they couldn't be duplicated. Though they were backed by water.
The idea is you have something which has a limited supply, so you can have an idea of the amount of it out there
1 bottle cap = X Water
Ahhh
and can use it to trade with others and everyone knows how much it's worth in x thing
the reason we use(d) gold in the past is because it's limited on this planet and the extraction of new gold is hard
Less control over it, that way though @notaglobe
Ooga Booga muh Homophobia https://pluralist.com/teen-killer-abel-cedeno-sentenced-homophobia/
Wait so if money isn't based on gf an just magig numbers then why doesn't the government just increase the amount of money it has If it's all worthless and more can easily be made?
A floatless currency allows us to manipulate it a lot more
@James Rimor are you trolling me or seriously asking?
That's called inflation @James Rimor
More money = each single piece is worth less
not that i'm mad if your serious
Ye I know it's artificial inflation
but are you serious before I put effort in here
High inflation can be beneficial in certain times
^ to stop stagnation
Okay I just realised how stupid the thing I asked was when I remembered venezuela ππ
