That is so over simplified that it is basically nonsense. There are properties of ideal money which explains why gold, fiat, and currencies all have value.
The fact that so few people seem to know this is a big reason why money continues to baffle people. Most haven't been able to figure out the real underlying principles that give a dollar bill value, they just know that it does.
Gold is heavy, corrosion-resistant, shiny, pliant, and scarce. For those reasons, it makes a good coin. But you can't eat or drink a coin. Its value is still based on being able to exchange it for a coconut.
Why don't you take a break from patting yourself on the back and explain to us simpletons the inherent value of a currency?
The inherent value of ideal money should be obvious. It allows the universal exchange of time-shifted value. It is so fundamental that from cigarettes to cell phone minutes, groups of people tend to gravitate towards some combination of currencies, if if they lack in some properties of ideal money.
A shared ledger of value does not help someone on the edge of biological survival. Once the most basic needs are met, money happens one way or another.
The fact that so few people seem to know this is a big reason why money continues to baffle people. Most haven't been able to figure out the real underlying principles that give a dollar bill value, they just know that it does.