--- "Burns, Erik" <[EMAIL PROTECTED]> wrote: > and also of "e-gold" (which is still around: > www.e-gold.com), all of which use tokens rather than dollars (which are > tokens too).
Gold is not a token. Gold is a real commodity. Tokens are substances of little intrinsic value which can be exchanged for something of real value, like a ticket to a movie, or like fiat paper money. What we call "coins" today are really tokens rather than true coining of precious metal. > these always seemed to me to be ADDING a step to transactions > rather than making them easier. What step does it add to exchange in terms of gold ounces rather than dollars? It is a step to translate from dollars to gold, but if you reckon in terms of gold ounces, then the extra step is to translate to dollars. > and the argument that e-gold solves the fiat > money problem is, to me, false because you're stuck with gold's value > being determined by a market that's priced in ... dollars. The fiat problem is the arbitrary inflating of the amount of currency, which does not take place with gold. Gold's value is relative to everything else, not just dollars. Those who had their money as gold during the past couple of years are not crying. Fred Foldvary ===== [EMAIL PROTECTED]
