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> Why not have an expiry date on money? Because then it's not fungible, which means by some definitions it's not money. An "old" dollar whose time is running o
by gary_0 5y ago
> Why not have an expiry date on money?
Because then it's not fungible, which means by some definitions it's not money. An "old" dollar whose time is running out would have less value than a "new" dollar, making transactions suddenly very complicated.
- fleddr 5y agoThe idea is not as crazy as it sounds. Some argue that as soon as central banks launch a digital dollar, said dollar becomes programmable. One major change is that effectively the central bank becomes the main bank for everybody, fully centralized. As such, they would have far more insight. And they can push money to you directly, like a stimulus, when needed. Yet also allow this money to have an expiry date, so you have to spend it before a certain date.
- 8note 5y agoThis expiry date is tied to it being in my account? Or just on the dollar? Why would anyone want to accept it, when it will be worthless next week?
- fleddr 5y agoTied to your account, obviously. Stimulus money that has to be used this month, or it will expire. For the receiving party of that money, it is "normal" money, that doesn't expire. I'm not saying it's a good idea, but programmable money would make it possible.