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RE: Why Keynesian Economics will never work.... It's stupid, for starters...
Earlier today I was accused of comparing apples and oranges!
And reading your post I was thinking it was all an analogy for Steemit...
DO WE HAVE A POTENTIAL PROBLEM?
I'm still trying to work that out ....
Is crypto currency built out of thin air? (or geeks dreams, whatever.)
Philosophically speaking - money is whatever people have trust in seeing as money....
Until crypto , it has always been backed by tangible goods - from salt, all the way to gold...
Crypto is a an unknown - as in never before in history, have we had this as a possibility...
Even know, it's relative to the dollar. Even now, you can't get into crypto with out using fiat money - with the unique exception of steem....
It's something I can't fully get to grips with in, all honesty, within my own head...
Tangible goods for value backing a currency is an easy concept.
Crypto?...mmmm...It is, essentially , a conceptual currency.
The only basis in real life to a value , is the cost to produce the coin - which is paid for in dollars (electricity)..
If it ever becomes a fully formed idea of how I see it, I promise I'll do a post!!
It's not a popular opinion on Steemit but I now think ALL cryptos are a whopping great scam and are even more devoid of any real value than fiat currency...
Ya think? lol
The biggest 'darkside' I see, is the move into cashless and then taken over for government scrutiny...and the beginning of true totalitarianism..
Without a true value in money, the whole paradigm that we have lived by since we became tribal, changes.
now that's worrying..