The definition of ‘virtual’ in the dictionary refers to a presumed existence or subject that is treated as if it does not exist in reality. However, in contemporary usage, ‘virtual’ describes something that cannot be physically sensed by human beings. For instance, ‘virtual currency’ exists in the form of bits, as it cannot be perceived sensibly. Just because you can’t feel it doesn’t mean it doesn’t exist. In fact, human senses cannot detect the smallest unit of atoms that compose all things, yet that does not negate their existence. If something that does not exist but can exist as a hypothesis is called ‘virtual,’ then it exists in reality as a concept as soon as it is assumed! When something is hypothesized, the entity that is assumed originally did not exist, and the subject who made the assumption had not existed from the beginning, thus proving its existence by expressing the will of that assumption. Therefore, distinguishing between virtual and real holds no ontological signifi...
I previously presented the stone currency "Fei" used on the island of Yap in Micronesia, the western Pacific island nation. The "Fei" currency was a round circle, sometimes over 3 meters in diameter and weighing 3.5 tons. The island of Yap had no roads. People went in and out barefoot. Several people carried this money by placing wooden sticks in the center hole of the circle. The island used to belong to Germany when Germany bought the Caroline Islands from Spain. The German government ordered the village chief to repair the path. But the village chief refused the order. A fine had to be imposed, and the heavy stone money could not be confiscated. After much agonizing, the German government marked the stone money with a cross in black paint. In other words, they confiscated the property. Surprisingly, the village head repaired the path and the German government removed the cross. The seizure was lifted. Economic value is personalized through ownership. The key to o...