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Anon describes currency
(lemmy.world)
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this post was submitted on 15 May 2025
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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.
Well I didn't really gave much of a thought when writing. I was narrowminded. This makes sense