Alternative currency ( paper money ) - page 5.

HabBear

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Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Nope. Because "unregulated" and "by the government" are opposite, contradicting things that are impossible to exist side by side. What you describe can only be a scam in its implementation.

Emily_Davis

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Quote from: Irvinn on October 11, 2018, 03:37:54 PM

Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Does this mean that this paper money will actually be either private or issued by any business structures? And what will they be provided with and what is the guarantee that the individuals or legal entities who issued them will not go bankrupt in the future? No, I think that such money will not have value and will not be in demand. In any case, I would never use them.

Also, if there will ever be an alternative paper money that is unregulated by the government, it won't last because aside from bitcoin, it will have a greater competition with the regulated paper money that everyone else is already using. Why would people switch to something that doesn't have value to begin with?

pozmu

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Quote from: Michael_Cox on October 11, 2018, 07:19:55 PM

Why does this give me the impression of play money? Also, if this is going to come to fruition, there will be a lot of people printing their own fake bills. I'd rather stick with bitcoins. At least it's got some value.

Bitcoin was called play money in beginning, it was also called ponzi scheme, scam, fraud etc.

And what about vouchers, would you call a voucher play money?

Michael_Cox

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Quote from: ylnar123 on October 11, 2018, 04:48:16 PM

Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Is there something like that? It would be fake if there is unregulated paper money circulating in the community. Such question is not a deal to begin with and cannot be true due to the government not allowing such currency.

Why does this give me the impression of play money? Also, if this is going to come to fruition, there will be a lot of people printing their own fake bills. I'd rather stick with bitcoins. At least it's got some value.

pozmu

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Quote from: ylnar123 on October 11, 2018, 04:48:16 PM

Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Is there something like that? It would be fake if there is unregulated paper money circulating in the community. Such question is not a deal to begin with and cannot be true due to the government not allowing such currency.

Yes there is, for example Bristol, England - they do have their own currency which is accepted in many shops. Another city, Hull, was going to run their own cryptocurrency but I don't know how successful they are. Some cities popular with tourists also run their own currencies e.g. Polish Łeba.

Interesting article: Local UK currencies

figmentofmyass

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Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

probably not. it sounds like "wildcat banking" in america during the 1800s. since there was no federal regulation of banks, there were lots of questionably backed bank notes issued by state chartered banks. as the story goes, these wildcat notes rarely fetched their face value when trying to negotiate them in other states.

anyway, i'm not a fan of private currency. they're essentially debt notes---it's basically like holding USDT and things like that. money shouldn't entail worrying about whether the issuer can really back the notes.

i much prefer decentralized currency, where i can verify for myself against a protocol whether the money is really there.

ylnar123

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Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Is there something like that? It would be fake if there is unregulated paper money circulating in the community. Such question is not a deal to begin with and cannot be true due to the government not allowing such currency.

cryptocrusher

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Most money works on the basis that there is something or someone guaranteeing its future value. Mostly holding a currency is an investment in to the government of the country it belongs to, or more specifically the future prosperity of their economy and the demand for their currency. If there was an unregulated paper money it would be hard to guarantee some sort of real value (much like bitcoin), the value would then come from utility, in this case crypto as a digital money is far superior to paper money in many ways and so there would be no incentive to choose this new paper money over cryptocurrency.

Irvinn

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Quote from: freeman1177 on October 10, 2018, 06:54:37 AM

If there was an alternative currency (paper money) unregulated by the Government would you use it?

Does this mean that this paper money will actually be either private or issued by any business structures? And what will they be provided with and what is the guarantee that the individuals or legal entities who issued them will not go bankrupt in the future? No, I think that such money will not have value and will not be in demand. In any case, I would never use them.

freeman1177

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If there was an alternative currency (paper money) unregulated by the Government would you use it?

Topic: Alternative currency ( paper money ) - page 5. (Read 930 times)