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Update Money

Craig Everett 2026-02-06 18:58:03 +09:00
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Money.md

@ -10,4 +10,4 @@ Money has three primary uses that we care about:
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*. 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*.