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> Government backed currencies have similarities, but instead of mining the earth, a government (or corporation in the case of company stores) can "mine" its co
by 1996 6y ago
> Government backed currencies have similarities, but instead of mining the earth, a government (or corporation in the case of company stores) can "mine" its coercive power to produce more currency.
The solution is software limitations, as found in crypto, which can implement a fixed inflation schedule, as was proposed by some economists.
One government could try to force a change, but the coordination problem of getting all to force the same change means it will not happen.