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I dunno... A democratic government is a government that rules through the will of the people rather than by the might of an institution. A democratic currency

by nathanb 14y ago

I dunno... A democratic government is a government that rules through the will of the people rather than by the might of an institution. A democratic currency, then, would be a currency which derives its value from the willingness of the populace to accept it as tender rather than from governmental fiat.

JamisonM 14y ago
Democratic legitimacy comes from the democratically elected government, regulating the economy is accepted by pretty much all democracies as one of the powers of a government. I am not sure if that is what you mean by "the might of an institution." I think a democratic currency should be the one selected by the democratic government in most cases. Otherwise, if you accept my premise above that a currency like Bitcoin is good for asset-holders, they could use their influence in the economy to force non-asset-holders to use Bitcoin. That would be the opposite of democratic since it would be more wealth = more votes.