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Backing fiat with real assets stored somewhere (not necessarily gold) I don't think cryptocurrencies solve anything though, they're equally not backed and the
by jokethrowaway 5y ago
Backing fiat with real assets stored somewhere (not necessarily gold)
I don't think cryptocurrencies solve anything though, they're equally not backed and they don't even have weapons or an economy behind
- mikeblackson 5y agoHow do you make sure fiat is backed by the necessary amount of real assets? Without a concrete safeguard, we would eventually fall back into the debasement scenario again. I believe this is the problem bitcoin is attempting to solve. The asset/value is inseparable from the monetary network which makes it easily auditable.