nibbledy-pibbles are utterly made-up and value-less.
What! You mean I'm not going to be able to get my dollars' worth of nibbly-pibbles?!
I once heard the term "accepted for value" used to describe how fiat currency works. It has value only because enough people accept it as valuable and we can therefore trade it between us. If you think about it, that also goes for anything we accept as a currency, including gold, silver and crypto. Indeed, we're so used to our fiat system, we don't even know how to value precious metals or crypto without using the dollar reference.
I do think crypto will be the next phase moving forward. If the governments have their way it will be their own centralised version, though.
Haha, the outlook is grim from nibbly-pibbles, lol.
Yes, "accepted for value" is the principle all currency operates on, very good of you to point it out, and I could've definitely covered that more/deeper in my post. That said, the principle does not mean all currencies are created equal, nor does it mean the 'accepted-for-value' sytem can't be corrupted, unfortunately, lol.
Great point about most of us needing the dollar to even understand the value of precious metals at this point, omg.
Everything's 'going digital' and it's likely finance/money will too... I guess we'll see if the governments get their way, and how it all plays out.
Thanks for sharing your insights, wishing you a great weekend! 🙏
Everything is corruptable, especially if it's a concept, which is what "accepted for value" is. I can see why gold has always been seen as a store of value, because it doesn't oxidise (corrupt) like most other metals. Unfortunately, it still requires wide spread acceptance of it being valuable for it to work, so again it's put into a conceptual form.
The idea of money is a fantastic concept at its core, though, and has a fascinating history. Even as seashells you can see the people who lived near the sea as the bankers who can generate the currency for use.
Yes, I totally agree, well said. Thanks for your comments, I believe they've added positively to the discussion, you rock! :) 🙏
You do seem to touch on a lot of subjects I fascinating, so I enjoy the conversations and learning a bit more. 😁
(grin) Well, I just go towards whatever topic calls to me, but I'm thrilled our conversations are enjoyable to you. I feel the same! 🙏