Re:Crypto in 2026: Oh, This Is the Bad Place
by thephyber on Tuesday June 23, 2026 @08:44PM
(#48653678)
No, an airplane is a physical thing we interact with which has intrinsic value, physical transportation. This is a perfect example of what money is not.
Money is not the token (the coin or paper bill), but the component of the ledger the token represents. Sometimes there is no physical token, only an entry in a ledger (eg. digital transfers after fractional reserve banking). The intrinsic value of the metals in the dime are (usually) worth less than the face value of the denomination, hence the discussion that the _story_ is more important than the physical _token_.
The author of Sapiens is a very famous speaker on many topics HNers like. He’s worth a listen.
Money is not the token (the coin or paper bill), but the component of the ledger the token represents. Sometimes there is no physical token, only an entry in a ledger (eg. digital transfers after fractional reserve banking). The intrinsic value of the metals in the dime are (usually) worth less than the face value of the denomination, hence the discussion that the _story_ is more important than the physical _token_.
The author of Sapiens is a very famous speaker on many topics HNers like. He’s worth a listen.