(August 12, 2021 at 11:06 am)Spongebob Wrote:(August 12, 2021 at 9:58 am)WinterHold Wrote: It's backed by electricity. The more electric power you invest the more "revenue" you get
The perfect scourge from God to the scam of toilet papers known as the Dollar.
-Where is my gold; Dixie?
-Well, uncle Sam stole it all, and gave me toilet papers instead..fooled me that I can get gold; but he stole all the gold an kept it there in a safe, locked in chains away and far from me and James ! We are so poor, so broke, living in cells and mud; while Sam lives in mountains of gold and Rum.
-The lonely thinker.
You're quite deluded if you believe that. You are describing mining bitcoins. That's one way to acquire them, but it has absolutely nothing to do with the value of a bitcoin. The "value" of crypto currencies floats relative to all other currencies, and everything else for that matter, just like conventional currencies. Even if what you say was true, it has no meaning. Just because you "paid" 100 killowats-hours for a bitcoin (for instance) doesn't mean you can redeem said bitcoin later for that amount of electricity. It has no backing, just like other currencies. Currencies are only worth what society believes they are worth. It's a mind trick and it has existed since the first cro-magnon traded a sharp rock for a fish.
I don't know where you got that hokey quote but it doesn't mean anything to me. But here's one for you:
"Islamist terrorism is a cancer on Islam, and Muslims themselves must fight it at our side."
Marine Le Pen
You're speaking about the "exchange rate"; of course "exchange rates" float relative to the desired currency.
You see? it's all relative to the marchent.
Crypto currencies can only be mined by economically capable people who were gifted with "electricity". A dark world will never be able to produce a single crypto coin.
Bank money has no "real backing" also. Or did you forget 2008 ? BTW that cycle will turn and turn, and the next fall will be harder.
As for the Rightist "Le Pen"; she can go to Trump; I wish the American Deep State kicks their asses in the next fight.
