Author Topic: The End of Money  (Read 131 times)

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Offline kimmy

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Re: The End of Money
« on: April 09, 2018, 09:17:20 am »
I remain skeptical about the part where I get to exchange my imaginary internet coins for real-world goods and services.

If I'm creating something, whether it be handcrafted duck-shaped ornaments or Snapchat **** or whatever it is that the young folks are selling on the internet these days, and I'm selling it for "Bunz Trade Zone" dollars, how do I get to the point where I can pay my bills with it?  If the answer is "you can't, but you can buy other peoples' Snapchat **** and handcrafted duck-shaped ornaments", then ultimately it's not a replacement for cash.   Maybe somebody out there is willing to trade real money to get BTZ dollars, but it seems to me like that broker would be in the position to set the exchange rate.  If you're getting paid in BTZ dollars and need to pay your bills in real world currency, aren't you at the mercy of some small number of brokers who can set the exchange rate to be as low as they wish?

 -k
Paris - London - New York - Kim City