On Sat, 7 Jun 1997, Dan Clore wrote:

> Harry Veeder wrote:
>
> > > > Money is made from something physical and exchanges hands,
> > >
> > > Not necessarily. Most money now is just data in computer banks. Money is
> > > now pure information. (Information, of course, always has a physical
> > > base, but that is not relevant to my point. -- And when it comes down to
> > > it, I suppose that paper money is simply information as well.)
> >
> > What is your point? Is your point to deny the physical reality of money
> > and hope I will go along with you? ;)
>
> The point is that money is information, not physical objects. All
> information has a physical basis, but that does not change the fact that
> the two are separate things.

> > People may not be trading coins or paper, when they do electronic
> > transactions, but this dosen't mean money has lost its physical basis and
> > now resides in some disembodied platonic relm.
>
> I already said this. Now I've repeated it. Please drop the straw man
> argument about "some disembodied platonic realm".
>

Well, as far as I'm concerned this is what I take "pure" information to mean.
If I am wrong then please explain. Please don't accuse me of erecting a
straw man argument.

> > Currency is literally anything which happens to be in current
> > use by a society.
>
> Argumentum ad etymologicum (appeal to etymology) -- this is a classic
> informal fallacy.

What is an informal fallacy?


>
> > It might be polished stones or magnetic oxide
> > deposits on a tape. Whenever a new physical/technological basis for
> > money is adopted some people are left marginalized, and for those people
> > money is not "simply information".
>
> Why not? -- The number zero is a number like any other....
>

Zero what? Zero cows? zero gold? zero bricks?

Only from the standpoint of the accountant is money just a bunch of
numbers or as you like to say "pure information". When an accountant
works with money, or when individuals wear the 'hat' of an accountant, all
they see are strings of numbers to be added and subtracted etc.

> > In fact, in todays highly networked
> > world, the physical/techonological basis for money is spread out through
> > many human/computer interfaces. I suppose the expansiveness of the
> > electronic/photonic money networks has inspired the modern myth that money
> > is now "simply information". ie. It is hard to hold a network in your hand
> > when you are just a node in the network.
>
> Please read a little bit about information science before you declare
> this a "modern myth". It would help your evaluation if you at least knew
> what the term "information" means.
>

Hmmm. Okay I'll give you quote from two quantum physicists...

"Information is physical and any processing of information is always
performed by physical means - an innocent-sounding statement, but its
consequences are anything but trivial..."By David Deutsch and Artur Ekert

If you would like to see more go to:

http://eve.physics.ox.ac.uk/QChome.html
http://eve.physics.ox.ac.uk/NewWeb/Research/communication/communication

(David Deutch has new book ( now available in the UK, later in the summer
in the US) called the Fabric of Reality.)


> Well, I think I've been a little hard on you. Please don't take it the
> wrong way....
>

Not at all.

Harry Veeder