Comment: Absolutely.

(See in situ)

In reply to comment: uhhhh (see in situ)

Absolutely.

Absolutely. Money exists to ease the trade of equal value. It has many properties that help it to that end:

Durability. Portability. Divisibility. Intrinsic Value.

Durability so you don't fear it decaying over time.

Portability so you can keep it with you, and take it where you need to pay.

Divisibility so that you can pay exactly what you need to; no more, no less.

Intrinsic Value so you can exchange equally with the other party.

Gold, and silver make exceptional money because they fulfill these requirements perfectly.

Currency is different; it has no intrinsic value. No matter how much you have, it is always worthless. Only by exchanging the worthless units for something of value do you receive material enrichment.

Say I am holding a $20 note in my hand. The note itself, is it valuable? No. It is a worthless piece of paper. I can't even write on it easily. I could burn it for what that is worth. If I had a briefcase full of $20 notes, it would be the same, though I could get a much better fire. I go to the store with my $20 note, and I pick up some milk, and some bread, and I head to the cashier. Now we both know that milk and bread have an intrinsic value; nutrition, that is why I want them. So I give the cashier the piece of paper, and like magic, I am allowed to keep the milk and bread. He gives me even more paper back, and some coins made of base metal.

I got away with defrauding the store of it's milk, and it's bread. All I gave them was a worthless piece of paper. Why? Confidence. The store believes that it will be able to pull the same fraud on someone else, namely their suppliers and employees. Each and every transaction, currency for value, is fraud. You take the loss by accepting the currency, and then pass it on to the next party. Of course, this cycle of immorality can only end badly. When the confidence runs out, when people realize that they've given something for nothing, the whole scheme collapses. Someone will be left holding the bag; they will be left with the loss, and no one to pass it on to.

Instead of inventing yet another system of worthless units, to provide bogus liquidity, why don't we at the DP start advocating for money in the form of gold and silver coinage? That is what man really needs, not Bitcoin.