First biological theory of money supports Bitcoin

[hardcores]

I can agree that fiat has a way of interacting with our minds or gene as money because fiat is money and that is what it is used for but bitcoin isn't used only as money but other things too. So where is the connection coming from.

I think bitcoin is still connected with fiat money and there are many more that are still hidden inside without you knowing. just understand the general nature of bitcoin so you don't get complicated. 

[1714859228]

1714859228

[1714859228]

1714859228

[1714859228]

1714859228

[1714859228]

1714859228

[maanmieli]

Hi all,

Modern biology has been getting close to solving the mystery of money ever since Dawkins attempted a definition in 'The selfish gene'. By clarifying some basic conceptual issues, this research article defines Bitcoin as the first form of digital money. Fiat 'money' and any coin that prioritises exchange over value is defined as credit. This sorts out the confusion with ideas like 'credit-money or 'money is debt' or 'money comes from a commodity'... In this way, the article solves the recent debate between David Graeber and the Austrian School. I hope it is useful.

https://www.academia.edu/40138316/Money_is_a_token_of_cooperation_The_biology_of_indirect_exchanges

I think this selfish Gene is somehow essential till and extent since it is the one that actually helps the world running , ofc too much of this is  a problem for sure.
This is actually derived from the *survival instinct*
If you are selfless you tend to be easily killed and you know other things .

There is a Gene for everything , even for our habit of moving legs without any stimuli .

I think the selfish gene is indeed a natural trait that is always present in humans. besides that most of us do not want to get out of the safe zone, so with the power we have, we try to refuse to be safe, even though this can be detrimental to others and even the world. we see that developed countries always want to be ahead and rule the world, in various ways

The article is actually against the 'selfish gene' mantra, which is nearly 50 years old and has been superseded by more realistic, non-moralistic theories about cooperation. Please read before you comment.

[MonsterV]

I can agree that fiat has a way of interacting with our minds or gene as money because fiat is money and that is what it is used for but bitcoin isn't used only as money but other things too. So where is the connection coming from.

I think bitcoin is still connected with fiat money and there are many more that are still hidden inside without you knowing. just understand the general nature of bitcoin so you don't get complicated. 

Indeed, all forms of currency created are actually connected with fiat because fiat itself is a base currency. Even bitcoin has a very high value because of fiat, if fiat doesn't exist, then where can bitcoin be pegged to? Well that's about concept. And true, that general nature of bitcoin is certainly not far from fiat,  only difference is that it adopts a technology.

[SquallLeonhart]

I can agree that fiat has a way of interacting with our minds or gene as money because fiat is money and that is what it is used for but bitcoin isn't used only as money but other things too. So where is the connection coming from.

Well, the connection is the currency, both of them are used as currency, one is old system and is being used by government has power over its people while the second is new and digital which gives freedom to lots of people to have control over their own personal finances.

The advantage of bitcoin being used as currency that I see is part form the freedom to individually operate our own transactions anonymously, it also serve as a digital assets for store of value which increase as the system appreciate while fiat does not, but rather is a fixed assets that is not that flexible and does not appreciate. Although satoshi came with the idea of bitcoin to supplement money, but I think that it has the power and all the technology to really replace money in future.

[maanmieli]

The discussion is very interesting, but it can only make sense from a purely theoretical point of view.
In reality, the relationship between biology and bitcoin is quite forced, so I wouldn't waste too much time on it.

This is because you assume that biology has nothing to do with reality, which couldn't be further from the truth. Human societies are animal societies. You can keep understanding 'money' in the usual cultural way, but I wouldn't call that very empirical.

[maanmieli]

The cooperative, non-altruistic nature of Bitcoin is elusive even to those who understand its technicalities. Many of them are fans of Austrian economics, even though the very existence of Bitcoin is a blow to their theory that money is ‘the most liquid good’ which emerges from barter. Because bitcoins have not yet established themselves in the way a 20th Century mind would regard as ‘generally accepted’, bitcoins are not regarded as money. But Menger, Mises and Hayek were all pre-internet human beings with a strong national consciousness. Bitcoins are valuable precisely because they transcend such an old social context, because they encapsulate the desires of people to cooperate regardless of where they were born.

“Really, what is money?” https://link.medium.com/hSshrD0hJZ