10 posts
|
Post by rippler on Oct 6, 2014 0:11:38 GMT
I think it would be interesting to have a discussion on whether World Dollar will work? I mean, can 10,000 WLD really be distributed to everyone in the world? Also, won't there be a problem because World Dollar is not backed by anything?
|
|
13 posts
|
Post by thebenjamincode on Oct 6, 2014 1:47:02 GMT
well i think it will work out if we have a community who are patronizing it, i'll try to find some crypto exchange and a market place for WLD. then i will suggest it to the foundation
|
|
3 posts
|
Post by adamj on Oct 6, 2014 7:55:33 GMT
I won't vote on this yet, not sure.
I don't think money needs to be backed by anything, I mean look at bitcoin and even all fiat currencies. I guess what matters most is like what thebenjamincode said, to have a community behind it and spread the word. Then we'll see whether it takes off.
|
|
13 posts
|
Post by thebenjamincode on Oct 6, 2014 8:03:00 GMT
hey guys, lets do our best to help spread the word about world dollar so that this community will get big. i myself is voluntarily helping. i hope you guys do the same
|
|
10 posts
|
Post by rippler on Oct 7, 2014 1:24:09 GMT
I won't vote on this yet, not sure. I don't think money needs to be backed by anything, I mean look at bitcoin and even all fiat currencies. I guess what matters most is like what thebenjamincode said, to have a community behind it and spread the word. Then we'll see whether it takes off. But bitcoin is mined and fiat money is backed by government, WLD is pre-mined?
|
|
5 posts
Ripple Name: WorldDollar
|
Post by WorldDollar on Oct 8, 2014 14:15:15 GMT
I won't vote on this yet, not sure. I don't think money needs to be backed by anything, I mean look at bitcoin and even all fiat currencies. I guess what matters most is like what thebenjamincode said, to have a community behind it and spread the word. Then we'll see whether it takes off. But bitcoin is mined and fiat money is backed by government, WLD is pre-mined? Fiat money is not "backed" by government, as though you could exchange fiat money for some sort of government "a/sset". Whether something is "mined" or not is irrelevant from a monetary economic perspective. In fact, we argue that the mining process, particularly for bitcoin, is highly inefficient. As adamj said, money does not need to be backed by anything in order for it to have value. What gives money value is simply that other users deem it to have value; it is a social convention. For more on this: www.world-dollar.com/what-is-world-dollar/
|
|