[53017] in Cypherpunks
Re: What backs up digital money?
daemon@ATHENA.MIT.EDU (Simon Spero)
Sat Mar 30 21:50:09 1996
Date: Sat, 30 Mar 1996 14:29:06 -0800 (PST)
From: Simon Spero <ses@tipper.oit.unc.edu>
To: Black Unicorn <unicorn@schloss.li>
Cc: Hal <hfinney@shell.portal.com>, cypherpunks@toad.com,
jeff@Molasar.BlackMagic.Com
In-Reply-To: <Pine.SUN.3.91.960330093914.13577C-100000@polaris.mindport.net>
[Everyone's ignoring the obvious answer: Exabyte's, silly :)]
I find it kind of strange that many people are advocating setting up
nano-currencies when lots of central-bank grownups in the EU are still
bang-up for monetary union. I'd be interested to hear why so many people
think the massive extra costs involved in adding 1000s of extra private
negotiable currencies will somehow be worth it (apart from FOREX and
derivatives arbitragers).
If I was going to create a purely digital currency I'd want to do it at a
supra-national scale (e.g. the Euro or maybe even the UNO); otherwise why
not just treat chaumian cash as just another payment instrument.
---
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