epSos-de's Journal: Money again

Slashdot is following the Money development very closely.

I feel that the technology oriented people are too crazy over this new monetary system. I also feel that the people who speculated on the forex markets think that the Money system is in any way different. As of today, the Money value is very dependent on the exchange rates. There is no real way to translate Moneys into bricks, cars or flights.

Even, if the internal value of the Moneys is supposed to be stable, the external value is not protected against speculation.

The other thing is the fairness of the system. The early adopters and the early Money millionaires are going to be very rich at the expense of other people. This is not good. There are only 21 million of planned Moneys. There is no way to make more Moneys, than the one who got the first million.

Income and wealth disparity is build into the system of Money. I have no idea how this is different from regular capitalism.