The Scandal of Money
There is no objective measure for value, like physical units: meter, second, ampere, etc. How to create an objective measure of money?
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George Gilder points out -- "Basic challenge of the world economy today, is to address the scandal of money. We today have 5.1 trillion dollars of every 24 hours of currency trading, and this currency trading accomplishes nothing, except to endow central banks with the right to steal from the future in order to consume in the present, and steal from future generations, and I believe, the real reason for the trade war is not trade or industrial machinations, - it’s the collapse of money. So, 5.1 trillion dollars a day of currency trading – it’s 25 times all global GDP, it’s 70 times all trade in goods and services, and it doesn’t even prevent constant hedging of every transaction across the border, it doesn’t prevent trade conflicts, it doesn’t really accomplish its goal. So, I think that the great contribution of blockchain, is to allow a new global currency, that plays the role that gold played for a hundreds of years of the fastest growth of the world’s economy… and it’s what really what blockchain [can do]: not only a new Internet architecture, but also a new global architecture for the world economy.
"You don't think it's virtual wealth only? Just like the stockbrokers?"
"It's not wealth itself. It's the measuring stick of wealth, that guides entrepreneurial visions and creativity -- you gotta have a measuring stick: just as you need to measure the 'second', the 'kilogram', the 'ampere', the ‘mol’ – all the various measuring sticks that make it possible to make a chip in Taiwan and incorporate it in a smartphone in Shenzhen, and send it to Cupertino for marketing into Israel for amplification – all of that is made possible by common measuring sticks: the nanometer is the same in Shenzhen as it is in Timbuktu, but money, which is a critical measuring stick, is different all around the world, – is being manipulated by national central banks -- so we have a chaos of money… and that’s why the world economy is slowing down now, why trade is no longer growing, why countries are constantly fragmenting and fighting over valuations."
Simply put, each currency, even each blockchain is like a rope, but we don't have a "meter" to measure their value objectively. The value currently is set through supply-demand equilibria - currency wars, trade wars, valuation wars, that are inherently subjective.
Markets allocate funds to shareholders, can markets allocate equitably too?
Resolve the scandal of cryptocurrencies, by introducing underlying asset: time-complexity itself -- as a currency.
暗号通貨も単なるロープであり、お金のスキャンダルの一部です。私の意見では、人生の真の目標を一緒に定義し、その目標までの合理的な距離メトリックを作成し、それを測定することによってのみ、「お金のスキャンダル」を解決することができます。
市場は、生命の価値ではなく、トレーダーの価値を概算しようとします。市場はあまりにも愚かで、客観的な価値の尺度を考え出すことができません。
Cryptocurrencies are also just ropes, they are part of the scandal of money. In my opinion, only by together defining the true goal of Life, and creating rational distance metric to that goal, then measuring it, is how we can resolve the "scandal of money."
Markets try to approximate what traders value, not what Life values, and markets are too dumb to come up with objective measure of value.
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[Mindey]金曜日のこのオンラインイベントは、通貨デザイナーのFeranandaIbarraとのチャットです。
[Mindey] you may like this online event on Friday, a chat with a currency designer Ferananda Ibarra.
//「希少性から十分性へ」（イベントの説明から）//
いや、代わりに「つながりから繁栄へ」に興味があります。 「十分」だけでは十分ではありません。
// "From Scarcity to Sufficiency" (from event description) //
Nay, I'm interested in "from Connection to Prosperity" instead. "Sufficiency" not enough, ever.
うーん、私は言葉ではなく相互作用によって定義された世界を見ています。つまり、イベントはトピックについて人々と交流するためのスペースです。そして、相互作用は使用される言葉を形作り、私たちの世界観、そしてそのような世界を形作ります。
Hmm, I view the world not defined by words but by interactions. So, events are spaces to interact with people about topics. And interactions shape words used and shape our world views, and such the world.
大量の金融工学は詐欺だと思います。租税回避を見てください。
しかし、デンマークで腐っているのは通貨そのものです。法定通貨はその性質上不正です。
国の価値が金融のカバールによって国際的に薄められるのは間違っていると思います。
ビットコインは解決策ではありません。ビットコインの領主は、別の性質の領地、投機的なジャッカルです。
I think a large amount of financial engineering is fraudulent. Just look at tax avoidance.
But what's rotten in demark is the currency itself. Fiat currency is fraudulent by its nature.
I think it's wrong that a country's worth can be diluted internationally by a financial cabal.
Bitcoin is no solution. The bitcoin lords are fiefdoms of another nature, speculative jackals.
国の価値は、国が資本に対してどれほど安全であるかに関係しています。
それは間違っている。ほとんどの人は資本を持っていません。
Value of a country is connected to how safe a country is for capital.
That's wrong. Most people don't have capital.
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