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RE: Money, what it really is and why BTC could (or not) replace it)

in #bitcoin6 years ago

A gold standard coupled with cryptocurrency would lead to a very stable monetary market that is decentralised. This will reduce the need for governments to conduct careful monetary policy since global currencies will be more efficient for everyday use.

This is a very long way off, but there's no reason to trust fiat currency over cryptocurrency for a lot of fiats. The Euro is a complete mess and will become less and less viable. The Pound is in big trouble due to the resistance of the government to go through with Brexit. The USD is stable at the moment, but there's a large amount of USD circulating which if cashed out would result in massive, massive debt for the US and plunge them into a catastrophe.

None of these problems can happen with cryptocurrency. It's a purer form of currency and a more honest one.

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I don't really see the point backing the crypto in gold, we might fall to a simillar mistake in the future, I feel like the blockchain itself and the POW can do the exact same work, as most ppl of the worl will join this market and currency in order to overtrow the amongously infected Fiat currencies market.
(BTW sorry for the EXTRA late answer, somehow I bypassed this post when answering T_T)

Windows, MacOS, Linux, UNIX... all of them are types of OSes.

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