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To: Apple Pan Dowdy
How are his coins different from Barter?

In economic terms they are totally different. Barter requires a double coincidence of wants. If I'm a chicken owning pickle wanter I need to find a pickle owning chicken wanter in order to make a trade. Because they are valued commonly, coins can serve as a medium of exchange thus solving the double coincidence problem. It's the whole point behind money and arguable anything that can serve as a medium of exchange can, at least in theory, be accused of competing with government money.

14 posted on 03/22/2011 10:50:02 AM PDT by SeeSharp
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To: SeeSharp
If I'm a chicken owning pickle wanter I need to find a pickle owning chicken wanter in order to make a trade.

Okay - now drink a couple of beers and say that one out loud, quickly, three times... ;-P

22 posted on 03/22/2011 10:56:02 AM PDT by MortMan (What disease did cured ham used to have?)
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