Re:I, Token: The untold story of the hole in Bitcoin's heart
by mst on Saturday July 31, 2021 @12:54PM
(#28019778)
It also fails to take into account e.g. Somalia, where there's been no bank for some time and banknotes are printed by whoever can put together a convincing-looking printing operation ... and yet they continue to function as tender just fine.
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Re:I, Token: The untold story of the hole in Bitcoin's heart
by paulgb on Saturday July 31, 2021 @01:26PM
(#28020019)
Is there somewhere I can read more about this? I wasn't aware of the situation with Somalia but it seems to be counter to the narrative of hyperinflation I found on Wikipedia https://en.wikipedia.org/wiki/Somali_shilling#Modern_history
Re:I, Token: The untold story of the hole in Bitcoin's heart
by mst on Saturday July 31, 2021 @05:20PM
(#28021654)
The hyperinflation happened, yes, but the point is that once it stabilised "pre-1991 notes and subsequent forgeries were treated as the same currency."
I'm not attempting to say this was a good situation, only that it has interesting implications for "what is a currency" as a question.