Larning more about the nature and history of money, we eventually realize that money is simply a promissary note, valuable only because we agree it is valuable, a useful social fiction, or token system, useful for exchange of real goods or services, or possibly for savings (minus inflation, hyper-inflation and
Continue readingTag: fiat
Writings of J. Todd Ring: The rise of Bitcoin: and the challenge to the global domination of big money
The following article was written on October 25. I wanted to read it over once more before publishing it, then got busy with other things and forgot about it. In the roughly six weeks that have passed since the writing of this article, the Bitcoin prices have gone from roughly
Continue reading