On Tue, Sep 30, 2008 at 6:59 PM, Ian Kelly <[EMAIL PROTECTED]> wrote: > On Tue, Sep 30, 2008 at 4:39 PM, ihope <[EMAIL PROTECTED]> wrote: >> Legal tender assets are defined by the currency's backing document, >> not by the legal tender assets' backing document. Therefore, a >> currency does not have to participate. If you meant that currencies' >> face values in themselves should not always be 1, can you tell me why? > > Ah, I misunderstood that. I still have a problem with the proposal, > though, which is that the face values are not constrained and the > sentence "Any person CAN exchange an asset for its face value by > announcement" is not clear. If I have one grotzit, and the backing > document of nargs defines the face value of grotzits in nargs to be > 100 points, does that mean I can exchange my grotzit for 100 points?
100 points isn't in nargs, it's in points. But now I realize that there is a bug: if there's some asset that isn't supposed to be destroyed by announcement (like Markers) and I say that Markers have a face value in my own currency, I CAN exchange Markers for my own currency, thereby destroying them when I wasn't supposed to be able to. I retract all my votes on the proposal "Legal Tender" and vote AGAINSTx1635. Legal Tender 2.0 coming soon. --Ivan Hope CXXVII
