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Re: Giving Value to Digital Cash
> Most major economies are using fiat money today, so it is clear that fiat
> money will work. But you could not create a new economy with fiat money.
How would fiat money work without somebody enforcing a fiat? I can't
see many of this crowd of anarchists and fellow-travelers being
willing to do that.
> The money has to start out having real-world value and convertibility.
> After it has been in circulation for a while, it can be "decoupled" from
> outside standards.
I think a "decoupled" currency would go the way of the Thorne, sooner
rather than later.
Eli [email protected]