Today's word of 8 letters: Binance tariffs

Trump and her sisters' currency 'Meme'.. They are a billion-dollar industry

Alan Watts, the renowned British philosopher, says, 'Money is just a symbolic tool invented by humans to represent value, and it has no real or intrinsic existence.'

Watts points out that money relies on mutual trust among people. This trust is not in the coins or bills themselves, but in the economic and social system that supports them. For example, the dollar or gold has no intrinsic value, but we believe in their value because we all share this narrative.

What does a $100 bill mean without people's belief in it, other than being just a piece of paper with special designs and images? And what about a kilogram of gold? What is the difference between it and a kilogram of iron or copper? Can you eat gold or paper?

Money is just electronic data

Iron and copper may have many more practical uses than gold, but nothing surpasses gold as an imagined value in the minds of humans created by the economic and social system over the years.

According to Watts, money or gold is just a myth like other myths that humanity has believed in for thousands of years, and it primarily depends on our shared human imagination. Money relies on our ability to believe in what has no real physical existence. This collective belief is what makes the financial system.