• If Only@sh.itjust.works
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      1 day ago

      I’m no authority on the subject but when I use “imaginary” to refer to money I mean it isn’t backed by anything. Most currencies are backed by a government, stocks are nominally backed by the profitability of the business that issued the stock, futures by commodities, etc. Crypto is traded like securities but has nothing backing it at all other than people’s willingness to buy it from you at a given price.

      Like many things it boils down to how you define your terms, “imaginary” in this case.