xulescu
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April 19, 2014, 02:45:41 PM


Double spending is not at all a problem with fiat. Neither cash nor credit. Counterfeinting and (succesful) attacks on cards, POS'es, ATMs yes, but not double spending. You cannot clone Benjamin. At least not a fictive but definitely produceable quantum Benjamin that cannot be cloned.

Creating fake bills and using them is doble spending. So yes, cash has that problem.

It is not clear to me that any fiat is NOT double spending.  Certainly counterfeiting can be construed thus, but what else is fractional reserve lending?

We're debating semantics here, starting with my post admittedly. We all know what we mean to say.