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A comment on Decentralized Blockchain-Based Electronic Marketplaces. Parent comment

Re:Decentralized Blockchain-Based Electronic Marketplaces by stale2002 on Sunday January 14, 2018 @03:47PM (#16146312)
I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally.

Does that mean that paper money isn't scarce?

Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.

[ Parent | on HN ]
Re:Decentralized Blockchain-Based Electronic Marketplaces by QAPereo on Sunday January 14, 2018 @03:56PM (#16146367)
That would be legal, but critically attempting to redeem them for current USD would be a crime.

So no... not the same.

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Re:Decentralized Blockchain-Based Electronic Marketplaces by stale2002 on Sunday January 14, 2018 @04:40PM (#16146647)
It is exactly the same.

First of all, I COULD sell my stale2002 dollars for real dollars, at market price, as long as I am not lying about what I am selling.

The price of my sale2002 dollars would probably be ~0, but I am still not breaking the law.

If you fork Bitcoin, you can't redeemed your forked coins for real Bitcoin, either.

It would be a completely new and different currency.

The same exact thing is the case with my new paper bills.

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