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A true Hayek currency would be backed by a market basket, not just gold.
by rdl 12y ago
A true Hayek currency would be backed by a market basket, not just gold.
- julespitt 12y agoYeah, it's pretty sad. His design for a currency is fascinating, and apparently unknown by these people.
- rdl 12y agoA bearer-backed market basket currency (rather, the ability for anyone to create a digital bearer token currency as a service; billions of currencies, and realtime exchanges to determine prices and exchange currencies at transaction time) is my #1 idea for a project. Unfortunately not really a path to profitability, so I'll do something more mundane first. I'm glad I ducked out of e-gold (we were building a digital bearer currency backed by e-gold, in partnership with them) before the e-gold prosecutions started. Kind of sobering talking to the lawyers 10 years later and seeing what pain I missed.
- mikemarsh 12y agolink for anyone interested: https://mises.org/library/denationalisation-money-argument-refined https://mises.org/library/denationalisation-money-argument-r...