Quote from: ZeroTheGreat on February 10, 2014, 03:31:10 PM

Quote from: Come-from-Beyond on February 10, 2014, 10:56:28 AM

Quote from: 2Kool4Skewl on February 10, 2014, 10:33:10 AM

I can say I'm issuing a fiat currency backed by gold and sell the fiat currency on Nxt's AE, but who is going to make sure that I have the gold to back the fiat currency?

Nxt could have a special kind of asset backed by fixed amount of NXT.

Doesn't matter, it's centralized decision (to provide NXT <--->, say, gold), so it can't cover whole field of risks completely (gold's holder can be robbed, can cheat and so on). Why backup so needed for minds? Money better serve its pupose with free flow, w/o any backup. And decentralized money better than centralized.

I agree. NXT's external value is not relevant. It's internal value (the value of the goods and services relying on NXT) will be the reason for sustaining it.