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see you faggots still don't understand what money is? I

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File: Niall_Ferguson-2013-760x427.jpg (76KB, 760x427px) Image search: [Google]
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see you faggots still don't understand what money is? It isn't really the shiny gold or crypto, those are just physical representations. At its heart, money is about trust between a borrower and lender.

Money, is essentially tied to the trustworthiness and capabilities of the borrowers. This is why the reserve currency shifted over time with the rise of empires, from the Spanish to the Dutch to the British and then to the USA.

The productivity of class of people is the most important thing when it comes to trust in a currency. An anonymous and distributed ledger is secondary.

You guys are basically putting your trust in a bunch of NEETs that they will somehow be productive and be so inventive they will invent the cure for cancer, etc and so their money should be worth a lot. Good luck with that. You have just lent all your money to a bunch of basement dwellers.

http://www.cc.com/video-clips/k1og3a/the-colbert-report-niall-ferguson
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>>3496657

and just in case you thick morons can't get it over your head. Imagine that there are two islands, one island is full of engineers, doctors and scientists, and the other island is full of primative man.

You don't care what the exact type of currency each use, you do know you want the labor and productivity, services and goods of the smart island, and not the latter, and this is what gives rise to the demand for currency.

You see, you are blind to the fact that the currency matters very little but it very much matters who are using the currency.
>>
Cool story, bro!
Now, back to your cubicle you go.
>>
>>3496709
But it doesn't fucking matter because Bitcoin is a global currency
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>>3496731

a global currency backed by the productivity of basement dwelling millennials'

top kek
>>
>>3496738
You think NEETs make up the majority of crypto holders?
>>
you're an idiot arent you. the currency is global you fucknut. alot of smart motherfuckers like myself are getting in this in droves right now. I have been to two wedding with some of the smartest motherfuckers in the US, everyone is talking about it and they want in asap
>>
You are correct that a currency is determined by trust. I trust in cryptography and decentralisation since nobody really controls it. I do NOT trust in some centralized entity printing money and forfeiture laws and other bullshit.

It seems like a no brainer to me seems hard to grasp for many people. Money is what ever the fuck people say money is. Period.
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File: ferg.jpg (45KB, 415x458px) Image search: [Google]
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Hey Faggots,
My name is Niall, and I hate every single one of you. All of you are fat, retarded, no-lifes who spend every second of their day looking at stupid ass pictures. You are everything bad in the world. Honestly, have any of you ever gotten any pussy? I mean, I guess it’s fun making fun of people because of your own insecurities, but you all take to a whole new level. This is even worse than jerking off to pictures on facebook.
Don’t be a stranger. Just hit me with your best shot. I’m pretty much perfect. I am Laurence A. Tisch Professor of History at Harvard University, and authored several bestselling non-fiction books. What intellectual achievements do you persue, other than “jack off to naked drawn Japanese people”? I also am named as one of the 100 most influential people in the world by Time magazine, and have a banging hot girlfriend (She just blew me; Shit was SO cash). You are all faggots who should just kill yourselves. Thanks for listening.
Pic Related: It’s me and my bitch
>>
>>3496657
>lent
>he actually thinks crypto is fiat
>>
>>3496834
Does that nigger even have a clit, bro? Looks like one of those niggers you adopt de-clitted.
>>
>>3496843

Well yeah what did you do you sold a present consumption basket in the hopes of a better consumption basket later on, this is the definition of lending.
>>
>>3496780

yeah i bet you are the "smart but lazy" type who could've become a successful scientists/engineer/trader but was held back because of the man/society(insert excuse) and so are all of your friends ;)
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