Re:Decoding the Enigma of Satoshi Nakamoto and the Birth of ...
by natrius on Friday May 15, 2015 @12:31PM
(#9551696)
The direct lineage matters because my point was that it's hard to convince people that a new currency is worth something. It's easy if you promise to redeem it for something people already value.
(1) What difference does "direct lineage" have? They aren't gold, and they aren't backed by gold. Unless you arguing that they have sentimental value from a historical association that hasn't been real for generations, this is meaningless.
(2) Also, this is more true of silver than it is of gold. the gold standard was sort of a brief fad (in long-term historical terms) in the final centuries of commodity currency standards as the dominant model, while silver had dominated for a much longer time previously. Pretty much all of the extant currencies that have a "direct lineage from gold" also have a direct lineage from silver, and the ones that aren't themselves relatively new have a much longer history under silver.