Perfect Money
Choosing between infinite creation and finite perfection: A critical look at the future of money. A guest post, by Sylvain Saurel
Money is an integral part of our daily lives, but have you ever stopped to consider what it truly represents?
Many of us have been conditioned to believe we work for money, but in reality, what we receive is currency—often in the form of digital numbers appearing in our bank accounts.
We use this currency—be it dollars, euros, yen, or any other form—to pay for goods and services. However, there's a catch: over time, this traditional currency tends to lose its purchasing power, a phenomenon known as inflation.
But what about money itself?
True money possesses attributes beyond mere currency. It serves as a store of value, maintaining its worth over time, and exhibits scarcity, which helps preserve its value. These characteristics differentiate money from simple currency.
Yet, what if money could embody even more intangible qualities? What if it could represent freedom, security, or even a new form of social contract?
In his latest Substack article, "PERFECT MONEY," financial writer Sylvain Saurel delves deeper into these intriguing questions. Whether you're a finance enthusiast or simply curious about the future of money, Saurel's insights offer a fresh perspective on this fundamental aspect of our economic lives.
By…
Sylvain Saurel
Editor, In Bitcoin We Trust
What is money?
You've got to admit I've got you stumped with such a simple question, but one whose answers will vary enormously between the people you ask.
Since it's fashionable to ask AI what it's constantly thinking, let's put the question to Gemini, Google's generative AI:
Gemini tells you at the outset that the very concept of money is historically complex. Gemini then gives you a whole bunch of lines on the key functions of money (MoE, UoA, SoV) and how money works.
But you don't get much further, because it's far too complex.
For my part, I'll try to be more concise by suggesting that you consider money as an abstraction of your time and energy. Viewing money as an exchange of energy helps you focus less on what's being spent or lost and more on the opportunities to grow, create, and thrive.
The good thing about this rather simple and concise definition is that you'll easily understand that time and energy can't be printed. Consequently, if someone suggests you use money that can be printed out of thin air, you're not dealing with real money.
But then, aren't fiat currencies like the US Dollar or the Euro real money?
Despite what governments and central bankers constantly want you to believe, fiat currencies are not real money. If they were, central bankers like the Fed couldn't decide to print them out of thin air without using energy.
This is where Bitcoin is different but above all… superior.
When I write this, some people accuse me of being presumptuous. I'm sorry, but Bitcoin cannot be printed. The units of Bitcoin that are issued by the Bitcoin network each time a new block of transactions is added to the Bitcoin Blockchain require time, effort, and energy.
Add to this the fact that the Bitcoin supply is hard-capped at 21 million units no matter what, and that the remaining Bitcoin supply to be issued is halved every 4 years, and you get perfect money. It's not presumptuous to say that Bitcoin is perfect money, it's a fact.
Nobody can change these unique characteristics of the Bitcoin system. Not even BlackRock, which suggests that the supply of Bitcoin will not always be hard-capped at 21 million units.
From the moment you understand that Bitcoin is the perfect abstraction of your time and energy, you'll be faced with a choice: Continue to work thousands of hours every year for dollars or other fiat currencies that can be printed out of thin air, or exchange your time and energy for Bitcoin, allowing you to protect the fruits of your labor over time.
It's up to you to decide whether you want to regain control or continue to endure a flawed and not fixable system.
Slyvain Saurel
Entrepreneur / Developer / Blogger / Author.
I write on Bitcoin, Economics, Money, Investing, Personal Development, Motivation, Inspiration, Life, Success, Productivity,etc.Back to Yours truly…
In the distant past, I dove deeper into Money Vs. Currency, especially as it applies to #gold. However, being that this bulletin is about #bitcoin and #time, here are a few related bulletins that closely related to Saurel’s thoughts above.
