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The modern version of the tally sticks is something like bitcoins I guess, but the tally sticks have one advantage which digital equivalents cannot (I think?).  Namely, not only can no third party counterfeit a tally stick, but even the original holder cannot duplicate it.  I think this is not true of digital money because any process which is deterministic can be used repeatedly to mint the same bitcoin.
by njh on Thu Mar 22nd, 2012 at 11:48:28 AM EST

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