From: baumbach@atmel.com (Peter Baumbach)
Date: Wed, 20 Oct 93 15:32:38 PDT
To: cypherpunks@toad.com
Subject: Re: Backing
Message-ID: <9310202203.AA23988@bass.chp.atmel.com>
MIME-Version: 1.0
Content-Type: text/plain


 Isn't a finite source of backing a problem since it rewards those who
hoard it?  

Also

 If neither Alice or Bob have a backed currency, does that mean they
cannot trade?  It has always frustrated me to see poor people stay
poor, because they believe they have to get their wealth from someone
else.  People can create their own wealth.  A currency that ignores
this possibillity seams bad to me.

 Has anyone invented a workable "barter currency"?  Can I.O.U.'s be
created such that they work like money?

Peter Baumbach
baumbach@atmel.com