When I was growing up, I never received a financial education. I never considered how money effected me personally. I quickly learned that money topics are taboo outside of the bromide: “make it, spend it, and save it.” Real financial conversations were unheard of, and I did not develop any financial acumen. I was never even taught how the hell to define money and make sense of it.
Before delving into the psychology of money and cryptocurrency, it is thus necessary to clarify misconceptions about money, especially since most people’s monetary education has been similar to mine. I will start with giving “money” a coherent definition and then elaborate on its nature.
However, that doesn’t really illuminate the concept. It’s still somewhat vague. In reality, money is merely the perception of value for the purposes of accounting and ledger-maintenance. It is a measure of value exchanged collectively. Yet it is also a collective fantasy, or “collective hallucination,” as Andreas M. Antonopoulos put it.
This makes understanding money as confusing as grasping quantum physics. The particle physicists are experts who admit to not understanding quantum mechanics à la Richard Feynman. Similarly, the money economists are experts who don’t really understand money. Money is sort of a paradox in this manner. It is something valuable only as long as people assign value to it.
Full story at http://bit.ly/2yutVXu
Source: Bitcoin News
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