On Tuesday, October 28, 2003, at 06:10 PM, Robert B.Z. wrote:
I actually think you got exactly where I was going with this, picked it up
and took it to it's logic conclusion. And it took you only a few lines,
too.
Once people start using shares as a means to trade other stuff, we have a
fiat economy alongside the e-gold system.
I wonder why people don't do this more often with, say, Microsoft shares. Of course, we know that companies quite often buy other entire companies for stock only and no cash, so I guess in a way it happens fairly often. I don't think many people pay for labor or web hosting in Microsoft shares, though.
Maybe this will happen with TGC shares more often simply because people in the gold economy are pretty radical, innovative, early adopters to begin with, just by their very nature.
It's a bit as if someone issued dollar bills that are redeemable for gold
by the highest bidder where the issuer pays you a tiny amount of gold for
not redeeming the bill and promises not to issue more bills than value of
their undisclosed assets. From that perspective it already sounds like a
fiat currency (minus the promise bit), innit?
Sounds kind of like a stock, too. As I told George once, I don't consider the issuance of stock to be a good example of how money should work. However, I also said that none of these funky shenanigans bothers me in the least if it's voluntary. So bring on the funky shenanigans. At the very least I can get a good laugh and decline to participate.
You bring up some fun things to consider, Robert!
-- Patrick
--- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED]
Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
