[FoRK] What it means...

Eugen Leitl eugen at leitl.org
Sun Sep 27 10:59:09 PDT 2009

On Sun, Sep 27, 2009 at 08:45:07AM -0500, Russell Turpin wrote:

> Money isn't money because it can be used to fill cavities or paper
> walls. It is money because people treat it as money.

Except that some money is intrinsically scarce (proof of work) and
the other kind isn't.

What we need is to peg our currency to a diverse basket of scarce
natural resources, annually (or monthly) readjusted. Except, the
system still could be gamed, so it will.

Metal bars are sure stupid, but they are very hard to game.

P.S. Shiver me timbers, we gots 2%! Yarrrrr!

Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
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