Quote:
Originally Posted by TheSquealer
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.
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Agreed, but with like any religion, there is no guarantees. There is no guarantee that what you can purchase with a 20 bill today you will be able to do with the same bill tomorrow, next year a decade from now... With someone controlling the stream with ability to inflate or deflate currency there are more chances for mistakes to happen or for corruption to occur, all at the expense of faithful bag holders . Why do we need this risk?
Currency independent from everything else only serving purpose of trade exchange and ledger keeper with greatly reduced risk of counterfeiting - pure money =)