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Heard of the blockchain recently? Money used to be backed by naturally scarce resources. An ounce of gold is an ounce is an immutable portion of some finite li
by huffmsa 9y ago
Heard of the blockchain recently?
Money used to be backed by naturally scarce resources. An ounce of gold is an ounce is an immutable portion of some finite limit of gold until we get alchemy rolling.
But yes, fiat currencies based on the promise of government protection are very susceptible to being popped.
- occamrazor 9y agoBlockchain is based on artificial scarcity too.
- Cthulhu_ 9y agoBlockchain itself no, that's based on hashing algorithms and such. You're confusing it with bitcoin and other cryptocurrencies, which are based on supply / demand forces.
- huffmsa 9y agoYes, and it's replacing the other fiat systems we currently have. Full faith and credit of the Venezuelan government? No thanks.