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mrdavidmcdavid

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  • Apr 3rd, 2013 @ 5:11am

    Re: Re: "real"

    The gold-standard was a long time ago.

    The paper-notes in my pocket are only valuable by agreement with my fellow citizens i.e. the paper itself has limited intrinsic value.

    This difference is even more pronounced with the 1s and 0s that represent my bank balance. Arguably a bit coin (which represents actual computation effort) has more intrinsic value than those 1s and 0s.

    The powers-that-be must find this distressing! ;)

  • Apr 1st, 2013 @ 1:48pm

    "real"

    "real currency" that's a funny joke -- what is real about it except for consensus? :)