RE: Bit coin
May 27, 2021 at 6:48 am
(This post was last modified: May 27, 2021 at 6:50 am by BrianSoddingBoru4.)
(May 27, 2021 at 6:25 am)WinterHold Wrote: I love how so many speak about the value of "today's money"; despite the fact it has no real commodity to back it up xD the money of today is valued by Oil xD. It's worthless, it's toilet paper TBH.
A new currency MUST BE INTRODUCED to replace the Dollar, Bitcoin is your replacement.
BTW the Dollar you hold in your hands is FIAT MONEY (google it) xD it has no value, no gold to back it up, nothing.
There’s nothing intrinsically wrong with fiat money (although the US dollar is technically ‘fiduciary money’), as long as the issuing authority continues to guarantee its value. There’s not a lot of difference - in economic terms - between a commodity-backed currency and a government-backed one. Money has the value people think it has.
And before people start pointing out hyperinflation, that only occurs in conjunction with other economic woes, or when a government no longer backs the currency.
Boru
‘I can’t be having with this.’ - Esmeralda Weatherwax