Quote:
Originally Posted by holograph
Lol... do you think a fiat is based on something more than that?
based on belief that it won't go down tomorrow? )))
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Yeah, it is. Its a tangible piece of property, the value of which is based on more than the hopes and dreams of a bunch of anti-social nerds who think they're changing the world.
Money is based on faith. Money is religion, nothing more. It is based on the faith that someone else is willing to accept your 20.00 bill at a 20.00 value. A new phony religion is always going to have a hard time against accepted religions. Just because you believe in your faith, doesn't mean everyone else is going to. Unfortunately, for a new currency, everyone needs to or it fails.
