From: Mark Neely <accessnt@ozemail.com.au>
Date: Sat, 30 Mar 1996 18:34:41 +0800
To: cypherpunks@toad.com
Subject: Re: What backs up digital money?
Message-ID: <199603300000.KAA12656@oznet02.ozemail.com.au>
MIME-Version: 1.0
Content-Type: text/plain




>I would say
>that gold and diamonds do have intrinsic value, based on their beauty
>and the desire of people to own them.  

Well, doesn't this beg the question - the "desire" by people to own them
is not as a result of advertising, but the fact that society has long 
fixed them as standard units of "currency".

If all those centuries ago marble was decided upon as a central 
unit of currency, we'd all be killing ourselves to get some, not because
of any aestetic beauty.

Mark
___
Mark Neely - accessnt@ozemail.com.au 
Lawyer, Internet Consultant, Professional Cynic
Author: Australian Beginner's Guide to the Internet
Work-in-Progress: Australian Business Guide to the Internet
WWW: http://www.ozemail.com.au/~accessnt