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cryptocurrency will never replace gold-backed fiat currency.
by tossAfterUsing 7y ago
cryptocurrency will never replace gold-backed fiat currency.
- FloresHernandez 7y agoThere is no gold-backed fiat currency.
- Qasaur 7y ago“The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” - Paul Krugman
- tossAfterUsing 7y agoPaul Krugman - the original stable genius
- omarchowdhury 7y agoPray tell which fiat currency is gold backed.
- tossAfterUsing 7y agous dollars. obivoulsy
- omarchowdhury 7y agoU.S. dollars aren't gold backed.
- johnmorrison 7y agoFiat currency is not backed by gold, in fact, it is not backed by anything. Also, gold is not inherently valuable. It will become a regular common metal once we shift extraction to the asteroid belt. The truth is there really isn't much with "inherent" value out there, with the notable exception of potential energy.