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More important than money is that people believe in that money.

The collapse of the dollar will come when the trust in it collapses.

We are just seeing the beginning of it. If I ask the first 100 people I see in the street most of them still believe and save in dollars.

Neal 5mo ago

I think I understand what you are trying to get at.

Slight caution on the “more important” belief and trust.

It’s an accidental attribute of money, admits of more or less.

In the case of bitcoin as money, it removes both.

I don’t believe in bitcoin, there is no trust in the network.

When we exchange btc for goods and services, that’s real value 4 real value.

Perhaps you are right to say it’s more important when examining fiat, a specific kind of money, but when addressing money as a genus, general

category, the statement doesn’t hold.

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Discussion

Micael 5mo ago

I understand what you are saying but I don't agree.

Trust is fundamental to our society. I think we trust in Bitcoin, we trust the wallets, we trust the code. We always need to trust money, even if it is gold, just because we “know” someone else will wanted we are trusting and believing something that can not be the case.

Just because I can run my own node, I am not verifying every line of code at every level. I trust many things in the process of using Bitcoin. I trust bitcoin x1000 times more that I trust banks.

On the other hand we believe on what bitcoin represents, there an ideological nature behind it and we believe in that.

Neal 5mo ago

Yes, trust is always part of human relations.

And that’s what makes bitcoin a discovery. It’s a protocol that removes the need for trust in the monetary domain.

You can trust a hardware wallet company, or build you own.

You can trust others to look at every line of code, or do it yourself.

Satoshi explicitly says trust is the problem, and then solved for trust.

I’m cautious of the thinking money is generally “what we belief and trust” because that severs money from reality, real value creation.

Value isn’t simply in our head. it’s the composite of our subjective experience creating value in an objective world.

belief and trust is what creates the conditions for fiat to exist.

I’m certain we are almost entirely aligned. Without precision of language, we often employ a critique of fiat that could then rebound to us.

The question is why is it wrong for people to trust and beleive in fiat?

If trust and believe is more important, why are those 100 people wrong?

that make sense?

Micael 5mo ago

You absolutely right.

Neal 5mo ago

or maybe a simple way of saying it, bitcoin is bitcoin regardless of what you or i believe

Micael 5mo ago

Sure