Comment on Is there a theoretical limit to profit?
workerONE@lemmy.world 3 weeks agoI would argue that banking is a number in a ledger but money and banking are not the same thing.
Comment on Is there a theoretical limit to profit?
workerONE@lemmy.world 3 weeks agoI would argue that banking is a number in a ledger but money and banking are not the same thing.
Leate_Wonceslace@lemmy.dbzer0.com 3 weeks ago
I’m making a distinction between money as a system of abstracting wealth and what wealth practically means. You’re making a highly disputable philosophical argument about the ontological nature of money instead of engaging with the germaine ideas. Simply put: I don’t consider a physical representation of money in-and-of-itself; I consider the bill to be a part of a grand fragmented ledger. Furthermore, bitcoin is literally a public ledger for which there is no physical exchange of any representation of money. As a final example, the Yap isles famously have a monetary system that has physical Incarnations but no physical exchange among the people of the isles. It’s literally just a public ledger that exists in the minds of those who use it.