jamesd>>>While issue of a purely fiat digital currency without state
backing would be an interesting experiment, such a currency could never
gain value, never become useful as a medium of exchange. <<
If it started as one unit of barter value that was level with the dollar
and floated with it,
--
James A. Donald:
> > One could of course have a pile of gold, and physically
> > and in person exchange coins for physical gold
On 25 Dec 2001, at 9:44, Tim May wrote:
> 1. Must money be tied to intrinsic stores of value? I think
> the answer is clearly "No." The U.S. dollar is not in any
On Tue, 25 Dec 2001, Tim May wrote:
> On Tuesday, December 25, 2001, at 01:50 PM, Adam Shostack wrote:
>
> > Many posts have talked about a both a 'fixed level' of money, and a
> > commission. I find this odd, especially as there will be no way to
> > add funds to the system. If you have a co
On Tuesday, December 25, 2001, at 01:50 PM, Adam Shostack wrote:
> Many posts have talked about a both a 'fixed level' of money, and a
> commission. I find this odd, especially as there will be no way to
> add funds to the system. If you have a commission on every exchange,
> the money essentia
The Big Bang was a fizzle.Like the 1st ashes series of cricket and the
first flight by harry Houdini,it happened near Sunbury
,victoria,au.People began a system of barter.Bob would do a few hours work
for alice and earn Barter Units of Money at the rate pegged to the
dollar.This system grew org
