By: Max (max.delete@this.a.com), August 18, 2011 3:54 am
Room: Moderated Discussions
David Kanter (dkanter@realworldtech.com) on 8/16/11 wrote:
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Every nation collects taxes
>in their local currency, creating a liquidity demand. Who needs liquidity for bitcoins?
You've hit on the key point. Ultimately it is taxes which gives value to government money. A corollary is that this is the true function of taxes. Clearly a government has no need for its own money; what it needs is for people to value its money.
Max
---------------------------
Every nation collects taxes
>in their local currency, creating a liquidity demand. Who needs liquidity for bitcoins?
You've hit on the key point. Ultimately it is taxes which gives value to government money. A corollary is that this is the true function of taxes. Clearly a government has no need for its own money; what it needs is for people to value its money.
Max
