(May 27, 2021 at 6:48 am)BrianSoddingBoru4 Wrote:(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
Actually there is something wrong with the U.S Dollar: "its value is estimated and kept trustworthy as long as America itself is the top Super Power in our world".
That what made the Trump reign so scary: America was proven to be "fragile" and a subject to division between the Oligarch camp VS the Military Industrial camp.
A fragile place like that cannot sustain a global currency.
Probably that's why "Biden" and the Military Industrial camp will try their best to make a technological revolution and takeover the Bitcoin.
Trump's camp will also invest in Bitcoin, I think they already began to do so with Russian Bitcoin miners are so many.
The Oligarch camp must be stopped.