kpeace on Nostr: Why can't Fiat be issued by random people? It's of course easier for government to ...
Why can't Fiat be issued by random people?
It's of course easier for government to force people to accept their fiat, but that is a technical issue. There are other ways to make people accept Fiat. Religious belief, popularity of the issuer, fear of exclusion (which is kind of force).
And what is a government? If a town creates it's own currency, is it not fiat? What about if the GNOME foundation votes on a new currency?
Fiat is Money by decree. It's easier for government to create Fiat. But it's not the only way
It's of course easier for government to force people to accept their fiat, but that is a technical issue. There are other ways to make people accept Fiat. Religious belief, popularity of the issuer, fear of exclusion (which is kind of force).
And what is a government? If a town creates it's own currency, is it not fiat? What about if the GNOME foundation votes on a new currency?
Fiat is Money by decree. It's easier for government to create Fiat. But it's not the only way