Chatgpt… please summarize the Gartner hype cycle for a 5 year old

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When you have commodity money, the value of the money is derived from the value of the commodity. You don’t get to assign arbitrarily higher values to the money because the market determines the value. But yes, all speculative assets typically have a higher extrinsic value compared with their intrinsic value but I don’t believe that has anything to do with it being a medium of exchange or not. That is just supply and demand.

Gold is a commodity and you can create a currency that is backed by a commodity so you aren’t actually trading the commodity itself.

That is not true, for the vast majority of the history of money it was based on a commodity that was valuable in its own sense. It is only in the last century that we have begun experimenting with currencies that are not pegged to the value of a commodity.

Cryptocurrencies derived their value from being a network of users (metcalfe’s law) so they are more like a commodity money. Thing about something like Meta, which has a valuation in the trillions despite its physical assets not be worth nearly that and its functionality as a website being easily replicated on an alternative platform. The users are what is valuable.

Sure, but a lot of people have also ‘heard’ that mbti is not scientifically valid and go around parroting that without any knowledge of what specifically science says about it.

It is entirely possible that outside of a scientific discipline, mbti works well enough for people to use.

Kind of like how we use the term “meme” and understand what it means but the concept of memes are not used in science because other models of cultural evolution have better explanatory power.

Genetic diversity protects a species against epidemic disease