Antonopoulos: Money is communication, bitcoin is digital communication

Antonopoulos: Money is communication, bitcoin is digital communication - BTC Direct

Andreas Antonopoulos, one of the world’s best known cryptocurrency analysts and bitcoin maximalists, says that money is a form of free speech. In an interview with London Real, Antonopoulos tells how money functions in society. He addresses one of the most frequently heard criticisms of bitcoin: that they have no value and that they are worthless imaginary toys, invented to take money from unsuspecting people.

Money has no intrinsic value

“Money is language. If you look at it from a very raw perspective, money has no value. This is something that most people don’t understand: money itself has no value. Money is a means of sending value. It is a way to express value, but the value is not in the money. It is in the product or service that you have purchased with it and it is in the effort that has been made. That is where the value comes from. There is nothing intrinsically valuable in money. “

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Money determines how much your time is worth

The hyperinflation of certain national currencies has shown that money has no intrinsic value, with piles and piles of devalued paper money. Antonopoulos says that money is a social construct, and that the purpose of value communication is:

“You can transfer value with money. And it allows us as a society to determine behavior: “This is important to me and I let you know by giving you three tokens of appreciation for what you have to work for.”

“We value money, most people value money, based on how many hours of personal work and effort it takes to get that money. That’s why it becomes funny money at some point if you can get it without working for it. “

Who controls money, speaks language, and can commit censorship

According to Antonopoulos, money is an abstract symbol, to which we give meaning ourselves, and we exchange it with each other. In other words, money is language.

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“Money is a language with an extremely limited scope and applicability, but with enormous power. Money indicates how valuable we think human time is. That is why everyone asks the question: “Do I get enough value back for the time I put in?” That sends a signal to other people, so that you as a society determine the price of time. “

“Mastering that language is very powerful. If you can control money flows, you determine social activities, you express personal values, and you determine what censorship is committed against. “

But look at it from a technical perspective: “If it’s just a language, we can make it completely digital. It doesn’t have to be in physical form. We can communicate it immediately to any part of the planet. Borders are meaningless. Race, religion, nationality, gender – none of these other social constructs makes sense in the context of that language. “

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