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mower159

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28/09/22

18:47

Post #: 63927930
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Originally posted by ex bull: ↑

Talking about digital currency.

It is worthless. It is invisible zeros and ones that can vanish by pushing a button.

At least with paper currency it gets exchanged, in the first instance, according to how many hours you have worked. In that sense it is an abstract store of someone's labour. Gold etc is a true source of expended labour and hence will always have real value. Paper fiat currency only has value as long as you believe in it. Originally when paper was introduced it was backed by gold.

The worst thing about digital currency is the worthless volume that they would invent. How would we know how much they would invent? Hence how would we know the real value of the "money supply". Plus whatever we buy gets recorded for some inner urban green public servant to go over with their deadsheet bias and junk values.

What would stop a future Labor/green govt from confiscating the wealth of anyone who didn't vote for them? Similar to what the reactionary deadsheet Trudeau has recently done to a section of the working class in Canada. At least with paper currency you can bury it in the back yard.

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A digital version of a failed fiat money system....no thanks.
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