Mike Murphy wrote:The only accepted form of currency in 2015 is fiat paper issued by governments. Governments currently have a monopoly on currency and we are being coerced into using their paper lies through legal tender laws. Fiat it is not currency because of it's merits, it is currency by government decree.
The world is on a fiat reserve standard and this only came about through the abuse of hegemonic power. The market did not chose this, the market does not want this. If the free market was actually allowed to decide the monetary basis of the international capital markets, it would not choose worthless bits of paper with huge counterparty risk.
Maxcoin is cryptocurrency. It is decentralised. There is no single point of failure, or a central bank or monarchy to decide when it's time is over. Maxcoin will exist as long as there is a single miner out there in the world willing to sustain the network.
Given the assumption that Maxcoin is not going away, what determines it's value? Of course, it's supply and demand. Supply is precisely known (unlike with most other commodities or financial assets) and predictable. Demand is the variable here which will increase over time as per the network effect, and during the next economic crash where there is a flight of capital out of existing financial markets.
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