Money only works to the extent that there is widespread belief in it, that people buy into its core myth. Money, Felix Martin says, is a social technology, by which he means that its functionality and usability depend far less on the physical qualities of the token that represents it than on the collective agreement among large communities of people that their token captures, represents and communicates transferable value. This is true whether we’re talking about gold, dollar bills, entries in a bank account, or cryptocurrency.
By extension, then, for any form of money to succeed, it must sustain a vibrant, growing community.
i think this premise is wrong. it really doesn't matter how "toxic" crypto twitter is. money is very much social, but people aren't accumulating bitcoin (or gold) because of "the community". they are accumulating because of its sound monetary properties and the fact that it works.
The only way to do that is to spur the kind of open debates that have always driven the progress of human culture — those which shifted norms and mores to the point that it became unacceptable to own slaves, to spit in public, or to jump a queue. So, listen up, bitcoin. It’s time to confront your toxicity.
hehe, this viewpoint is definitely gonna meet some resistance around here.
