On 1 September 2014 17:24, Joseph Potvin <jpotvin@opman.ca> wrote: > I just now noticed the phrase "non-fiat money" in the second bullet point > of the first section on scope, which reads in its entirety: > > "Non-traditional currencies (this term covers multiple cases such as the > commonly called cryptocurrencies > <http://en.wikipedia.org/wiki/Cryptocurrency>, digital currencies, > virtual currencies, non-fiat money. This category is sometimes designed as > "non-governmental units-of-account" by some International organizations )" > > The phrase "non-fiat money" is an anomaly in this otherwise precise and > meaningful statement. It introduces confusion, because whether or not > something is deemed by fiat to represent or to communicate value is > orthogonal to whether or not it is a traditional currency instrument. > Certainly, for example, BTC's reputation and reported unit value is based > upon a community fiat. > Doesn’t fiat imply government? > > Tentatively I would recommend to remove "non-fiat money" with no need to > replace it with anything instead.However perhaps those who recommended to > include this phrase would prefer to suggest a substitute that communicates > better what they intended, while also resolving the issue I'm raising here. > > -- > Joseph Potvin > Operations Manager | Gestionnaire des opérations > The Opman Company | La compagnie Opman > jpotvin@opman.ca > Mobile: 819-593-5983 >
Received on Monday, 1 September 2014 16:00:12 UTC