From 7044f071aba164e6d5dd044cd84d102e45929f92 Mon Sep 17 00:00:00 2001 From: Craig Everett Date: Fri, 6 Feb 2026 18:57:18 +0900 Subject: [PATCH] Update Money --- Money.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/Money.md b/Money.md index 6b51a40..7bba295 100644 --- a/Money.md +++ b/Money.md @@ -8,6 +8,6 @@ Money has three primary uses that we care about: 2. Store of value 3. Means of settlement (how a debt can be valued and later paid) -Money is an emergent property of market systems. Money emerges in market systems any time unlike things must be exchanged. "Money" is a broad category whereas a “currency” is a specific instance of it. A currency must be liquid, easily divisible, fungible, and easy for non-experts to use. The value of a given currency is derived from a belief shared among market participants in the future value of the currency itself. +Money is an emergent property of market systems. Money emerges in market systems any time unlike things must be exchanged. "Money" is a broad category whereas a "currency" is a specific instance of it. A currency must be liquid, easily divisible, fungible, and easy for non-experts to use. The value of a given currency is derived from a belief shared among market participants in the future value of the currency itself. Belief in a currency is subjective, but in strong currencies that belief is based on objective facts about the currency, its properties, and its enforcement. Further, any objective threat to a currency’s future value has an immediate impact on prices denominated in that currency, *regardless of the current money supply*. \ No newline at end of file