Well if you are trading federal reserve notes for bitcoin then bitcoin does have value from the exchanged dollars. However silver and gold are money and bitcoin and dollars are currencies. There is a big difference between money and currency it's just some currencies are stronger then others. So what does that say about the dollar?
Bitcoin and gold are both a store of value, only bitcoins are virtual. I believe the USD is a house of cards, and it has been since they left the gold standard in 1971.
Actually the dollar has been a "card house" long since it was ever created. It's basicly created out of thin air, so it has never had any real value. Only difference being that till Nixon disbanned the gold standard it was backed up by something that did have value. In the end our fiat currencies are nothing more than our believes in it.
Having a gold backing is important, and in this case it does have "real value", because in theory you could go to the government and ask for your gold equivalent for the cash that you have. Obviously that wouldn't happen but it's a case in point. If the dollar was backed by gold and externally audited that would be an ideal situation.
Technically you could call it value by the idea of it being backed up. But the money in essence still has no real value. It would make more sense to create a currency backed up by either technology (crypto's) or coins of gold/silver, giving it actual value.
Nah...Bitcoin is just very different from ponzi scheme
Ponzi is simply tagged 'A hit and run business type'.
Bitcoin is a currency. It does deal on p2p or ponzi style of business
Contrary to popular belief, Bitcoin is not the intentionally created Ponzi scheme. It is enough to study quite a bit of information to make sure of this finally.
I dont think so...It's a new type of monetary system based on mathematics and rare numbers. That's why it's a game changer. That's why we see 5-10 million investments to bitcoin startups every week. It has nothing to do with a Ponzi scheme.
Thanks for the information @inventor16, I understood the scheme and there is a subject for reflection.
Thanks for information) upvoted & resteem)
Thank you :)
valuable information... upvoted & followed..
Well if you are trading federal reserve notes for bitcoin then bitcoin does have value from the exchanged dollars. However silver and gold are money and bitcoin and dollars are currencies. There is a big difference between money and currency it's just some currencies are stronger then others. So what does that say about the dollar?
Bitcoin and gold are both a store of value, only bitcoins are virtual. I believe the USD is a house of cards, and it has been since they left the gold standard in 1971.
Actually the dollar has been a "card house" long since it was ever created. It's basicly created out of thin air, so it has never had any real value. Only difference being that till Nixon disbanned the gold standard it was backed up by something that did have value. In the end our fiat currencies are nothing more than our believes in it.
Having a gold backing is important, and in this case it does have "real value", because in theory you could go to the government and ask for your gold equivalent for the cash that you have. Obviously that wouldn't happen but it's a case in point. If the dollar was backed by gold and externally audited that would be an ideal situation.
Technically you could call it value by the idea of it being backed up. But the money in essence still has no real value. It would make more sense to create a currency backed up by either technology (crypto's) or coins of gold/silver, giving it actual value.
Cryto's don't need backing because they are backed by math. Math is a strong enough backing imo.
Nah...Bitcoin is just very different from ponzi scheme
Ponzi is simply tagged 'A hit and run business type'.
Bitcoin is a currency. It does deal on p2p or ponzi style of business
gold is substantial and bitcoun is virtual, but they are both demand against usd dollat, thanks for sharing.
100 % right, very good info. Thanks a lot
Contrary to popular belief, Bitcoin is not the intentionally created Ponzi scheme. It is enough to study quite a bit of information to make sure of this finally.
Never bitcoin is an alien technology for us hehe
I dont think so...It's a new type of monetary system based on mathematics and rare numbers. That's why it's a game changer. That's why we see 5-10 million investments to bitcoin startups every week. It has nothing to do with a Ponzi scheme.