Re:backing

F_GRIFFITH@CCSVAX.SFASU.EDU said:

Greshams law: "bad money drives out good" i.e. where people have a choice (e.g. gold vs greenbacks post Civil War), in making payments, they will use the lesser value money and keep the higher value. Thus, the lesser value money will circulate, the higher value money will not.

So in essence you're saying that poorly-backed digital currency will win out over e.g. U.S. dollars? That's an interesting concept. (I mean the above literally, not sarcastically; I don't care to take either one side or the other of this question right this instant, although I will say that there must be some extra caveats to add.) Doug