4 ms·
Boy these articles on digital currencies are confused and poorly written. If anyone reading this ever wants to write an article on a new digital currency, plea
by droopyEyelids 10y ago
Boy these articles on digital currencies are confused and poorly written.
If anyone reading this ever wants to write an article on a new digital currency, please consider beginning your analysis based on Jevon's four properties of money.
>In Money and the Mechanism of Exchange (1875), William Stanley Jevons famously analyzed money in terms of four functions: a medium of exchange, a common measure of value (or unit of account), a standard of value (or standard of deferred payment), and a store of value.
Of course, that requires actual work. For example, you have to do research to find out how a government sponsored 'medium of exchange' would work. No matter how regressive or controlling the policies around it were, the currency would probably be a success if any business could create an account and start sending and accepting money using an open protocol without fees.