Quote Originally Posted by Gavilan

And I think it is pure magic indeed, notwithstanding the ancient link to gold as a numeraire. https://en.wikipedia.org/wiki/Num%C3%A9raire
Gold is payment in hand, deal and matter settled for ever upon exchange.

Bills, notes, bonds, titles, etc. are "promises to pay." And in the current superstructure "undefined promises to pay". Cyber currency is nothing more than a mere book entry which can signify an "undefined promise to pay".