> it's not that government says it is, it's the societal consensus that it's worth it.
Disagree. The government only accepts their preferred currency for payment of taxes. This is, in my opinion, its initial source of value. Secondly, they may literally stop you from using an alternative currency if they can't figure out how to tax it.
> The government only accepts their preferred currency for payment of taxes.
By "transactions" I also meant tax collection, yes.
> Secondly, they may literally stop you from using an alternative currency if they can't figure out how to tax it.
Usually, at the point where society as a whole loses confidence in government-issued currency, it no longer has resources to stop you from using alternative currencies.
I think you’re receiving a strange response because people think you’re advocating some sore of crypto-anarchist freeman position, and HN as a community is very much weighted against that point of view ...
I can identify with what you’re saying and there are some very well known examples of local currency being subverted. You can see Bolivia in the news recently, or Argentina or everybody’s favourite trillion dollar note the Zimbabwean kwacha. Funnily enough, all have been using dollars ...
That’s what I thought but HN can be a strange church. Often just phrasing can get people’s backs up. Your comment was going grey so I guess you were on your way to getting flagged!
Disagree. The government only accepts their preferred currency for payment of taxes. This is, in my opinion, its initial source of value. Secondly, they may literally stop you from using an alternative currency if they can't figure out how to tax it.