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actually we need non-centralized currency. centralized currency regardless of who is in control is bad, just like with any other good. what we need is at the
by nazgulnarsil 16y ago
actually we need non-centralized currency. centralized currency regardless of who is in control is bad, just like with any other good.
what we need is at the very least state currencies that float against each other.
- jcromartie 16y agoSo what about BitCoin? It seems like a thoroughly decentralized currency. The only problem is the limited size of the Bitcoin economy. There is currently 5.68 million BTC, or $5,108,175 USD, worth of Bitcoin in the world right now, with a max of about 21 million. Could multiple open distributed digital currencies work?
- nazgulnarsil 16y agothe number in the world doesn't limit anything. bitcoins float against the dollar. if demand for them increases their value will increase dollar wise. money is not magical, it is a convenient commodity of exchange. the rules of supply and demand govern it.
- jcromartie 16y agoI see. I also did not know that BTC was divisible into very small amounts.