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hunter

(40,997 posts)

14. I simplify that to magic numbers.

Reply to legallyblondeNYC (Reply #5)

Mon Jul 6, 2026, 12:08 PM

Monday

You buy a magic number in a magic envelope at an auction, or you accept it as money. These magic numbers and envelopes have certain properties that make them extremely difficult to duplicate but they are easy to authenticate using a computer. These magic numbers have no more value than what the holders attribute to them.

Currencies like the U.S.A. dollar or the Euro are anchored in some type of debt. The value of the money is dependent on the quality of this debt. A central authority regulates the quality of the debt that's allowed to be monetized. In the U.S.A. this is the Federal Reserve.

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So its a grift? milestogo Monday #2

yep. rampartd Monday #11

If you were from another planet flvegan Monday #3

😍 milestogo Monday #4

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think of a casino chip that's in the form of a piece of software. legallyblondeNYC Monday #5

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not nothing rampartd Monday #12

good questions legallyblondeNYC Monday #20

I simplify that to magic numbers. hunter Monday #14

ghotI' pegh dweller Monday #6

Is that Klingon? surfered Monday #9

AI KLINGON dweller Monday #10

😁 surfered Monday #15

I LOVE this explanation by John Oliver (2018) vapor2 Monday #8

An easy way for crooks to launder money gab13by13 Monday #13

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It is pretty complicated, I know what I do know JCMach1 Monday #33

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