4 ms·A bit of paper called cash backed by the state?by collyw 8y agoA bit of paper called cash backed by the state?VMG 8y ago* Issuance is controlled by a monopoly * high transaction costs unless both parties are in physical proximity * not durable * not programmablecollyw 8y agoTried and tested. Doesn't use a shitload of energy.VMG 8y agoTo each their own!