I certainly agree with what you wrote. But I think the point still stands that this is hardly black and white—the shilling did supposedly stay in circulation, right?
The argument about taxes and legal tender certainly show ways to increase demand for a currency, but they appear to be somewhat unnecessary, as with BTC.
We may in fact be agreeing. My premise is that chartalism is an interesting idea which can help color questions of why a given currency becomes accepted, but ultimately isn't literally true—other mechanisms of increasing demand for a currency may also be effective.
I certainly agree with what you wrote. But I think the point still stands that this is hardly black and white—the shilling did supposedly stay in circulation, right?
The argument about taxes and legal tender certainly show ways to increase demand for a currency, but they appear to be somewhat unnecessary, as with BTC.
We may in fact be agreeing. My premise is that chartalism is an interesting idea which can help color questions of why a given currency becomes accepted, but ultimately isn't literally true—other mechanisms of increasing demand for a currency may also be effective.