You know, talking about fiat currency as if it excludes the crypto currencies is somewhat telling.
It’s as if you think there is an intrinsic value to the crypto currencies. Where as, really, it has less intrinsic value than ones issued by a government.
Unless CCP starts taking payment in, say, Chickens, it’s all fiat currency.
Of course, many crypto currency ‘enthusiasts’ will claim differently. But in the end, there is no intrinsic value to a bitcoin. It’s only worth what someone will give you for it.
Its, specifically, fiat currency. What most people think of.
There are other styles, like commodity currency, where there is a direct link between the currency and a physical thing. Like when you used to be able to get hold for dollars. Pretty old concept now.
No we’re talking the literal difference between a currency system and a barter system. While you can use currency to barter, currency works because it has, effectively, an intrinsic value due to being guaranteed by an issuer (or it’s literal value as a precious metal).
I’m talking about the actual thing that defines a currency.
Everything has only value cause we deem them valuable.
So if something gets the perception of value, such as crypto, then that can be used as currency since people are willing to use it as a medium of exchange. Anyway, seems like a lot of simplification is going on in this thread. Probably, also a lot of talking past each other, cause I mainly just took a part of a post and quoted it, cause I found it funny. Didn’t bother reading in detail all what was said.
But it’s not actually a currency. It’s just an easy comparison.
The whole point is that a currency does not have a ‘perception’ of value. That’s the whole point of bank notes. They’re promissory notes. Theres a guarantee. A minimum value. It entitles you to an equivalent of something tangible. That used to be the gold standard, which isn’t used any more.
Cryptocurrency is a barter token. It’s value is based only on the receivers perception of its value.
I’d argue that there are many wrong points in your post.
However, I really don’t care. It’s not like I will be published if I win a debate on the EVE online “General Discussion” forum. So I’ll just nod and smile, while quietly retreating back into the dark.
Hmmm, don’t think to lightly about the streetcred you gather for being a awesome forumwarrior. Razorsharp wit, originality, humor, style…You could be the James Bond of EVE FORUMS.
