> You mention a commodity backed system but the reasons for it failing > are not the fact that it's commodity based.
It was that, being a metal-based currency there was no central bank (other than, perhaps, JP Morgan) to provide liquidity in a crunch. I've found that it's a waste of time to try to teach economics to Bitcoin true believers, so I'll stop now. R's, John _______________________________________________ cryptography mailing list cryptography@randombit.net http://lists.randombit.net/mailman/listinfo/cryptography
