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2012年12月18日 · Today's "fiat currencies" are examples of what Marx called token money, referring to money that is merely a symbolic representative of the use-value of the money commodity, i.e., a given weight of gold. While credit money represented a legal promise to pay in gold, token money just represents the value of a certain quantity of gold, which was ...
2013年4月1日 · Here's a good example of something that's better for a lot of people then fiat. A few Stanford blockchain graduates had this idea of building an app that everybody around the world with a phone could use. A place to buy and sell goods globally, with one currency and without any banks or other intermediaries. Now that's a wonderful opportunity ...
The one legitimate issue with fiat is that, in theory, a government may have an incentive to de-value a currency to pay for a bunch of spending. This has happened historically. But it is not a big deal in a world where you have a trustworthy central bank, and comes with a lot of costs. If you actually cannot change your money supply, you can't ...
2014年2月13日 · So at this point, if fiat money is introduced, it's not that hard to conceptualize. Say we've got $5 in circulation, which represents 5g of gold, which represents 5 hours of labour (totally arbitrary numbers btw). If all of a sudden $10 is put into circulation, $10 = 5g gold = 5 hours, and therefore $5 = 2.5g gold = 2.5 hours labour.
2022年10月17日 · Rather, Marx’s argument is that fiat money “grows directly out of the circulation of metallic money”, the function of money which causes the money-commodity to “take the shape of coin”, the “symbol of value”. Insofar as money is function as the medium of circulating commodities it functions only as a symbol of the commodities own ...
2018年12月18日 · I can suggest Marx's Theory of Money, edited by Fred Moseley - a collection of essays on the subject. As you say, it didn't exist in Marx's time so of course he couldn't write about it. It can be however linked to the state's future ability to extract value via taxation (Fiat money is in effect a tax credit). 6. Reply.
2021年10月29日 · Gold standard vs. fiat money. I’m writing a sci-fi novel and I’m currently developing an economy of the future. Is there anyone here that would be willing to chat with me about the differences between and nuances of the gold standard vs. fiat money? Your help would be greatly appreciated, and if you are willing to become a knowledge ...
2020年12月28日 · EDIT2: Ok, I tried it out with Binance since I already had an account there. It's amazing! I sold some of my Bitcoin (10€) as a test, then withdrawed the FIAT money to my bank account and it was instant! on my bank account because Binance as well as my bank supports instant SEPA transfer. I can totally recommend Binance, the fee was 0.80€.
2023年6月30日 · EdgeOfDreams. • 1 yr. ago. Fiat currency is backed up by the force of the government. If you owe taxes to the U.S. government, the only currency they will accept is U.S. dollars. If you don't pay your taxes, you get arrested and go to jail. So, you have a strong incentive to acquire U.S. dollars, which gives them value. 7.
Investopedia states that “Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government, rather than the worth of a commodity backing it.”
