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Mutable Mythology of Money - Harry Pottash, Refactor Camp 2018

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Talk given at Refactor Camp, May 2018

Published in: Economy & Finance
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Mutable Mythology of Money - Harry Pottash, Refactor Camp 2018

  1. 1. Why is money useful?
  2. 2. Coordination Of Effort
  3. 3. Similar to Hierarchy and Dogma
  4. 4. Everybody wants it
  5. 5. Most people will always feel poor
  6. 6. Every presentation must review the aspects of currency
  7. 7. Acceptability
  8. 8. Portability
  9. 9. Divisibility
  10. 10. Recognizability
  11. 11. Fungability
  12. 12. Durability
  13. 13. Difficult to produce
  14. 14. Theft Resistant
  15. 15. Stability of Value
  16. 16. The Common Man
  17. 17. The Trader
  18. 18. The Philosopher
  19. 19. Gold has intrinsic value, Like electronics, right?
  20. 20. No
  21. 21. 1900
  22. 22. Is it still backed by gold if they change how much gold it’s backed by? 1900: Dropped silver 1900: $1 = ~1.5 grams 1933: $1 = ~0.88 grams
  23. 23. The Dollar is backed by gold
  24. 24. And the IMF back up loans
  25. 25. The Dollar is backed by your ability to pay taxes with it
  26. 26. Your bank account is backed by the Dollar
  27. 27. With A reserve ratio of 10%
  28. 28. It’s like owning a little bit of the company
  29. 29. The market is efficient, just buy an index fund
  30. 30. Let me tell you about the Long Blockchain Corp
  31. 31. Diamonds
  32. 32. The greatest scam ever pulled?
  33. 33. If money is just paper, can’t we print a bunch an all be rich?
  34. 34. Can’t we just make inflation illegal?
  35. 35. So hierarchy trumps ownership?
  36. 36. It’s internet money that governments can’t mess with
  37. 37. It’s a poorly regulated, Highly volatile asset with no obvious price, and
  38. 38. What if our money was Turing Complete
  39. 39. The Blockchain is immutable! Our money must be gone forever!
  40. 40. The Blockchain is a consensus tool If we all agree to, we can have our
  41. 41. You mean I can print my own money?
  42. 42. Shitcoins For Everyone
  43. 43. It’s backed by USD at 100% capital reserves
  44. 44. And totally refuses to let anyone see those reserves

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