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They're just alternative currencies for people who want to escape fiat and they are more tamper-proof than regular currencies. That's all.
by cryptica 5y ago
They're just alternative currencies for people who want to escape fiat and they are more tamper-proof than regular currencies. That's all.
- mhkool 5y agoWhy do people want to escape fiat currencies? Because the central banks inflate them. If only we could have an inflation-proof currency...
- cryptica 5y agoWell pretty much. Gold would be good but it's difficult to audit as only a limited number of people can access the vaults; this auditing process is highly corruptible as history has shown us over and over again... In reality, because of this auditing issue, there was never enough gold to back the paper, even under the gold standard. With Bitcoin, anyone can audit holdings of BTC since the ledger is public.