Zenoctate@lemmy.world to Greentext@sh.itjust.works · 21 days agoAnon describes currencylemmy.worldexternal-linkmessage-square32fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1external-linkAnon describes currencylemmy.worldZenoctate@lemmy.world to Greentext@sh.itjust.works · 21 days agomessage-square32fedilink
minus-squaresugar_in_your_tea@sh.itjust.workslinkfedilinkarrow-up0·20 days agoThat’s… not how that works. It runs on supply and demand, just like gold backed currency, but it’s supply and demand for the currency instead of the underlying asset. If you want to control inflation/deflation, fiat is the way.
minus-squareZenoctate@lemmy.worldOPlinkfedilinkarrow-up0·20 days agoWell I didn’t really gave much of a thought when writing. I was narrowminded. This makes sense
That’s… not how that works. It runs on supply and demand, just like gold backed currency, but it’s supply and demand for the currency instead of the underlying asset. If you want to control inflation/deflation, fiat is the way.
Well I didn’t really gave much of a thought when writing. I was narrowminded. This makes sense