For P, there is A, and then there is B. P has both.

A is more important than B, P decides.

Value is born.

P2 comes, and agrees with P, that A is more important than B.

P3 comes, and agrees.

P4 comes, and disagrees. P4 decides, that B is more important than A.

Transaction is possible.

With more transactions, A and B are combined into more things. There are now AB, BA, AA, BB, AAA, AAB, ABB, BAA, BAB, BBB, and many more.

A or B and all their derivatives are very big things. Transactions have become frequent. Using A or B or any derivative is inconvenient.

Most People prefers Convenience. There is Value in Convenience.

P invents $a for Convenience. $a is much smaller than A or B or their derivatives, and it represents Value.

P2 agrees that $a represents Value.

Most other People agrees that $a represents Value.

Value takes on a new cloak.

People now have too much $a. Transactions have become Instant. $a has become slow.

People want things instantly. There is Value in Efficiency.

P invents %a, which is based on a new Technology. %a can be instantly transferred, and takes up no physical space.

One must use $a to buy %a.

%a attains Value through $a. $a attains Value through Value. Value attains Value through People’s agreement that Value has Value. Who decides Value?