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Showing posts with the label fiat

🪁Well, You Could Have Been Anything that You Wanted to and I Can Tell, the Way You Do the Things You Do🏅

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Your Attorney Is Using ChatGPT and Charging You $400 an Hour On lawyers, language models, and what happens when you try to pay your retainer in Polkadot Let's have a frank conversation about your attorney. Not your attorney specifically — perish the thought — but the general category of person who passed one very long multiple-choice exam, hung a sign, and is now billing you $400 an hour to have a chatbot draft your LLC operating agreement. Welcome to the modern American legal system, where the fox is not merely guarding the henhouse ; the fox has subscribed to an AI platform and is monetizing the chickens at a premium rate. The dirty secret of small private practice is that most  non-legacy attorneys are operating without the gilded infrastructure of BigLaw . No paralegal army. No secretary who quietly fixes their grammar. No $800-a-month legal research database keeping them current on case law . Westlaw and LexisNexis charge fees that would make a h...

🤑 Money, So They Say, Is the Root of All Evil Today 🖤

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Money Is Not Made Up A short history of why value was never invented by feelings, and what that means for digital assets today. There is a strain of thought in digital currency circles — earnest, sometimes feverish — that money is fundamentally a social construct, a collective hallucination , worth exactly whatever the next person agrees it is worth. The logic tends to go: fiat is fake, gold is arbitrary, and therefore anything can be money if enough people believe in it hard enough . This reasoning gets things approximately backwards. Value is not an agreement. It is a description of usefulness. A brief tour through the history of exchange makes this clear. The Word Salary Is Not a Coincidence The Latin root of the word salary is salarium . The prevailing etymology holds that Roman soldiers received salt as part of their compensation, or were paid wages specifically intended for the purchase of salt . Whether the literal payment was always in salt cakes is debated by hi...