Re: This just in, government owns your gold and silver
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You can't move to another currency if your business has gone belly up. How are these private currency companies turning a profit?
[/ QUOTE ] Maybe not, but having just one currency doesn't eliminate this problem, it only makes it worse, because other people cannot learn from your mistake and move to another currency and you cannot do so in the future with your new business.
And those companies turn a profit by having a spread between the ask and bid price of their currency. Of course, due to competition, this spread will shrink over time until it's as small as possible.
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