(May 27, 2021 at 5:44 pm)WinterHold Wrote:(May 27, 2021 at 6:48 am)BrianSoddingBoru4 Wrote: 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.
Funny...the US have been a global power for more than 70 years and have had fiat currency since 1971. They seem to be holding up pretty well.
In five years’ time, a mention of bitcoin will elicit either an indulgent chuckle or a perplexed stare.
Boru
‘I can’t be having with this.’ - Esmeralda Weatherwax
