Money is backed by violence. If you take some that isn’t yours then violence is done to you. Unless you take a whole bunch of it, in which case you get to use violence instead of experience it. The lack of a nation (with its police and military) to back a currency means it is valuable until it isn’t. With a nation and the violence that defines a nation, money is worth what the nation says it is no matter what we think or prefer. The state
monopoly on money is enforced by the state monopoly on violence.
Money is backed by violence. If you take some that isn’t yours then violence is done to you. Unless you take a whole bunch of it, in which case you get to use violence instead of experience it. The lack of a nation (with its police and military) to back a currency means it is valuable until it isn’t. With a nation and the violence that defines a nation, money is worth what the nation says it is no matter what we think or prefer. The state monopoly on money is enforced by the state monopoly on violence.