[52932] in Cypherpunks
Re: What backs up digital money?
daemon@ATHENA.MIT.EDU (Mark Neely)
Fri Mar 29 19:46:17 1996
Date: Sat, 30 Mar 1996 09:29:04 +1000
To: cypherpunks@toad.com
From: Mark Neely <accessnt@ozemail.com.au>
>I would say
>that gold and diamonds do have intrinsic value, based on their beauty
>and the desire of people to own them.
Well, doesn't this beg the question - the "desire" by people to own them
is not as a result of advertising, but the fact that society has long
fixed them as standard units of "currency".
If all those centuries ago marble was decided upon as a central
unit of currency, we'd all be killing ourselves to get some, not because
of any aestetic beauty.
Mark
___
Mark Neely - accessnt@ozemail.com.au
Lawyer, Internet Consultant, Professional Cynic
Author: Australian Beginner's Guide to the Internet
Work-in-Progress: Australian Business Guide to the Internet
WWW: http://www.ozemail.com.au/~accessnt
