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Is it though? All the meaningful currencies in use today, that I can think of at least, are blessed and regulated quite heavily by governments. Maybe this is a
by kahnpro 9y ago
Is it though? All the meaningful currencies in use today, that I can think of at least, are blessed and regulated quite heavily by governments. Maybe this is a bit of a theory vs real world question.
- ue_ 9y agoBitcoin is a meaningful currency. (If those downvoting would care to explain in what way I'm wrong, it would be appreciated.)
- rhino369 9y agoI'm not downvoting, but I'd imagine they'd argue the amount of goods and services transacted in bitcoin is incredibly small.
- NicoJuicy 9y agoYes, of course. I buy things with paper. One paper can be worth 500€
- ajhurliman 9y agoThe part where a government manages a currency can be bad because it can be mismanaged, which could lead to things like hyperinflation. The good part of the government management is the part where they investigate instances of counterfeit, but that part's already taken care of with cryptocurrencies.
- taejo 9y agoA major good part of management (whether by the government or a semi-public reserve bank) is that it can have adjustible monetary policy (add/remove currency to/from circulation to promote growth or prevent inflation).
- stale2002 9y agoBitcoin is more like Gold, not USD. With USD, the government can print as much as they want. Gold, on the otherhand, is finite, and NOT backed up by a government. And, like bitcoin, is basically worthless except as a speculative asset. (gold is not worth even close to the actual price that it is sold at.)