Thursday, November 28, 2013

money, I believe

As when a shared belief may exhibit itself in some brick-and-mortar cathedral or other business venue, so there is something wonderful about having the very foundation of money -- shared belief -- put in the spotlight.

If I believe it and you believe it, well then, voila! -- it is true and has very concrete results.

I cannot claim to understand the intricacies of "virtual currencies" like Bitcoin, but I can see that faith prints money, whether tangible or intangible. And there is something wonderfully rebellious and a bit spooky about a medium of exchange that seems to rest on no socially-agreed-upon norms. Taxes, dirty-money laundering, and a host of less nefarious activities are all cast in a new, if still credulous, light. Who is running this show and who will be responsible if people get hurt and who will eventually find a way to scam the system ... I don't know.

According to a Reuters story, Bitcoin broke the $1,000-per-coin barrier Wednesday. Enthusiasm for the currency is growing, it seems. Faith is on the rise.

I believe in diamonds.
I believe in gold.
I believe in lamb chops.

I suppose there's no reason not to believe in Bitcoin and its associates.

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