Comments on: Virtual currencies, real gold

By: Mark Herpel

Mark Herpel — Tue, 16 Jun 2009 16:19:35 +0000

YES, wisdom for the ages. Barter, community currency, local exchange trading and digital currency all seem to fit the equation nicely. The Internet gave us this great tool for P2P exchange. You can’t dump national currencies or never use them again, but integrating these great solutions alongside the all mighty dollar where local currency might fill in the cracks….this is a workable and helpful solution.

Mark
editor@ccmag.net
editor@dgcmagazine.com
http://twitter.com/dgcmagazine

By: Aran

Aran — Fri, 12 Jun 2009 07:04:47 +0000

Of course, we can never fully return to the gold standard. In total, about US$4.5 trillion worth of gold has ever been mined, and in the US alone about US$8.3 trillion worth of paper money is in circulation or deposit. (http://en.wikipedia.org/wiki/Gold_standard#Disadvantages)

Also, when the shit truly hits the fan, even gold will be near worthless… what you want as currency is food, medicine, fuel and cigarettes

By: ekwiti

ekwiti — Thu, 11 Jun 2009 16:36:53 +0000

Diversity of currency system would instantly emerge if there were no monopoly on the money.

I reckon, legal tender can only be enforced through interdiction of other currencies, otherwise people would have much more confidence in and use gold backed currencies.

Opening the currency system, and keeping legal tender only to pay taxes, would bring gold and a hudge diversity of currencies to the foreground, liberate a hudge potential and be a disruptive step

By: Guillaume Lebleu

Guillaume Lebleu — Thu, 11 Jun 2009 15:14:52 +0000

I agree with the need for diversity. Besides the fiat currencies, gold and local currencies, online currencies for content/games will play an interesting role as well.