It is entirely possible that I misused the word. I sometimes use words that, I realize too late, mean something different. However, this is not one of those cases. The primary definition of "arbitrary" is:
"based on random choice or personal whim, rather than any reason or system"
If, by a whim, everyone dumps their Steem, simply because they feel like it on that day, the price plummets and it is worthless. If the some top retirement executive, because he is feeling a little risky on a particular day, decides to include Steem in its multi-billion-dollar portfolio then the price will skyrocket. There is no rationale or logical system for determining price. The price for any thing is the amount people are willing to pay for that thing.
I think your statement is completely right. Although it is incorrect, or at the very least, incomplete; you have rightly constructed your case and expressed meaning using the elements presented.
However...
If there is an "If" within the argument supplied then it is contingent on limited operators. I would have to agree that the set of elements proposed are valid, AND, deterministic of said argument, to agree you are correct. Only one of these premises are active in your commentary. The elements are valid. Do they completely determine the relationship between arbitrary and currency tokens? No.
If this were chess, you staked your case on a Check, not a Checkmate.
Currency is an extension of human interaction(this is the system); a form of communication. I develop currency with every single person I know, this eases portions of our relationship where services are rendered, whether that is facilitated by use of Fiat Currency, or barter, or graciousness; the token of currency depends on the type of relationship we have. The token communicated is not arbitrary because it has meaning to both parties.
Try this, on a whim, next time you go out to eat, tell the wait staff this when it comes time to pay the bill: "Paper money is arbitrary. I'll give you, instead, Three hugs, 2 high fives, I'll bus and clean my own plates, I'll write a positive review online, and I promise to never eat here again." See if they go for this arbitrary list of services in exchange.
I agree the physical attributes of the token of exchange are more or less arbitrary. Whether it's metal, wood, wool, whatever, this is indeed arbitrary. But the service it plays in social lubrication is most definitely not arbitrary. Currency is an extension of myriad systems of communication we each employ individualistically to allow for relatively positive human interactions; or at the very least equitable.
For example, Ask a stranger to get you a soda. Ask a friend. Ask your mother. Any of these exchanges in communication going to result in you getting a soda without having to confer arbitrary tokens of fiat currency? Could it be you already established a token of currency, with at least your mother, whereby the resulting action of this line of communication conferred what you asked for?
Arbitrary DEPENDS on their being NO system or reasoning influencing the result.
Hell, there is arbitrary guessing and educated guessing, which is NOT ARBITRARY, even though it still is just a guess. See the difference?
There is always a reason, even if that reason is to be completely arbitrary.
Thank you for responding to my reply. Incidentally, my comment was intended to be a light hearted reference to the movie "The Princess Bride".
I see your point. However, I have paid a different price from sticker on many occasions. I didn't exchange for kisses and hugs but I have barters. I've even received free service for good reviews! One of my favorites: I was about to buy a vacation on Groupon for several hundred dollars. It was well below market price and I was happy to pay it. Then I saw the "chat" feature. I messaged "I want to buy this vacation, but it is pretty expensive. Can you help me out?". Without further prompting they gave me $20 off. Was the price of that vacation what people paid through the hotel's website, what people paid on Groupon, or what I paid on Groupon? Or is it arbitrary? 😉
It is entirely possible that I misused the word. I sometimes use words that, I realize too late, mean something different. However, this is not one of those cases. The primary definition of "arbitrary" is:
If, by a whim, everyone dumps their Steem, simply because they feel like it on that day, the price plummets and it is worthless. If the some top retirement executive, because he is feeling a little risky on a particular day, decides to include Steem in its multi-billion-dollar portfolio then the price will skyrocket. There is no rationale or logical system for determining price. The price for any thing is the amount people are willing to pay for that thing.
I think your statement is completely right. Although it is incorrect, or at the very least, incomplete; you have rightly constructed your case and expressed meaning using the elements presented.
However...
If there is an "If" within the argument supplied then it is contingent on limited operators. I would have to agree that the set of elements proposed are valid, AND, deterministic of said argument, to agree you are correct. Only one of these premises are active in your commentary. The elements are valid. Do they completely determine the relationship between arbitrary and currency tokens? No.
If this were chess, you staked your case on a Check, not a Checkmate.
Currency is an extension of human interaction(this is the system); a form of communication. I develop currency with every single person I know, this eases portions of our relationship where services are rendered, whether that is facilitated by use of Fiat Currency, or barter, or graciousness; the token of currency depends on the type of relationship we have. The token communicated is not arbitrary because it has meaning to both parties.
Try this, on a whim, next time you go out to eat, tell the wait staff this when it comes time to pay the bill: "Paper money is arbitrary. I'll give you, instead, Three hugs, 2 high fives, I'll bus and clean my own plates, I'll write a positive review online, and I promise to never eat here again." See if they go for this arbitrary list of services in exchange.
I agree the physical attributes of the token of exchange are more or less arbitrary. Whether it's metal, wood, wool, whatever, this is indeed arbitrary. But the service it plays in social lubrication is most definitely not arbitrary. Currency is an extension of myriad systems of communication we each employ individualistically to allow for relatively positive human interactions; or at the very least equitable.
For example, Ask a stranger to get you a soda. Ask a friend. Ask your mother. Any of these exchanges in communication going to result in you getting a soda without having to confer arbitrary tokens of fiat currency? Could it be you already established a token of currency, with at least your mother, whereby the resulting action of this line of communication conferred what you asked for?
Arbitrary DEPENDS on their being NO system or reasoning influencing the result.
Hell, there is arbitrary guessing and educated guessing, which is NOT ARBITRARY, even though it still is just a guess. See the difference?
There is always a reason, even if that reason is to be completely arbitrary.
Thank you for responding to my reply. Incidentally, my comment was intended to be a light hearted reference to the movie "The Princess Bride".
I see your point. However, I have paid a different price from sticker on many occasions. I didn't exchange for kisses and hugs but I have barters. I've even received free service for good reviews! One of my favorites: I was about to buy a vacation on Groupon for several hundred dollars. It was well below market price and I was happy to pay it. Then I saw the "chat" feature. I messaged "I want to buy this vacation, but it is pretty expensive. Can you help me out?". Without further prompting they gave me $20 off. Was the price of that vacation what people paid through the hotel's website, what people paid on Groupon, or what I paid on Groupon? Or is it arbitrary? 😉