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Anon describes currency (lemmy.world)

submitted 1 week ago by [email protected] to c/greentext

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[–] sugar_in_your_tea 13 points 1 week ago (1 children)

That's... not how that works. It runs on supply and demand, just like gold backed currency, but it's supply and demand for the currency instead of the underlying asset. If you want to control inflation/deflation, fiat is the way.

[–] [email protected] 2 points 1 week ago

Well I didn't really gave much of a thought when writing. I was narrowminded. This makes sense