4 ms·
I do not immediately see the difference between (2) and (3). In what way supports a government a currency ? A government controls more or less the quantity but
by Gys 9y ago
I do not immediately see the difference between (2) and (3). In what way supports a government a currency ? A government controls more or less the quantity but in the end a currency's value is just supply and demand. If the public does not trust a currency anymore then it looses its value. E.g. its also a community agreed value ?
- mod50ack 9y agoBecause the government compels users to use things in transactions. Actually, I should have chosen Chuck E. Cheese's in (2), as there is indeed in that case as well a more powerful entity that forces people to use that currency for the purpose (albeit tokens for games and not money for taxes). Bitcoin has no power that promotes its use in a backed sense, so it's not that kind of currency.