• BlueMonday1984@awful.systems
    link
    fedilink
    English
    arrow-up
    12
    ·
    24 hours ago

    Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).

    I can see an argument for considering them fiat. The value of “high-value assets” (e.g. gold) comes from the assumption they’ll retain their value even if things get drastic, not from being immediately useful (e.g. alcohol) or necessary to survive (e.g. water).

    PMs

    Zero clue what the acronym means in this context.

      • BlueMonday1984@awful.systems
        link
        fedilink
        English
        arrow-up
        3
        ·
        11 hours ago

        Ah, right. Yeah, I can see your point. If it isn’t necessary to survive (e.g. food, water), or it doesn’t have an immediate use case (e.g. ammunition), its probably some form of fiat.

        • Soyweiser@awful.systems
          link
          fedilink
          English
          arrow-up
          2
          ·
          10 hours ago

          Not really related but perhaps entertaining titbit, in the metro 2033 video game series they use high quality ammo as currency. Cant recall if this also happened in the book.