Economist wants competing money, Solution = SBD
Economist Friedrich Hayek talks about breaking governments (and Milton Friedman's Monetarism) monopoly over money, with the idea of competing currencies. This video was filmed before the birth of crypto currencies! Crypto is a solution to a long standing problem, and with SBD (Steem Backed Dollars), we are onto something!!
Special Thanks to my friend Mark for showing me this clip!
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Actually, cryptocurrencies were inspired by the ideas of economists such as Hayek!
you could say that. in the original white paper the inspiration seems to be mostly for alternative payments
True. Although the idea of cryptocurrencies is older. Anyway, Hayek would be happy for sure.
Agree. The idea of cryptos didn't emerge from satoshi. He just solved a problem in computer science which already existed and was known. This problem consisted in building a decentralized network, however i forgot the name of the problem.
thank you for checking @boxmining :)
done upvote me
https://steemit.com/photography/@schatengarg/i-ll-convert-ur-pic-into-a-stencil
What a visionary
Now we are the ones with the money printers and the FED can't register for Steemit accounts
The #Bitcoin truth - that we don’t need banks, central banks, or multinational cartels - is undeniable and infectious, once grasped.
@jahangiwifii So glad to see someone as passionate as I am! Cryptocurrencies and Blockchain Tech will change the world as we know it! For the first time the little people, globally, have a voice and platforms. We are too big to fail:)
Of course! Central banks print money out of thin air making everyone's money worth less. No, they do not have the gold to back it up! Huge central banks have never been audited, the Federal Reserve for instance! Bank notes come with an infinite supply and belong to a central bank. How is this not a fraud?
It is fraud. It's a double standard, one for the rich, one for the rest of us. The rich are untouchable and they know it. They can buy their way out of any trouble. How many years now has it been since they let the public see any gold at Fort Knox? Something like 50+ years...wonder why that is? I mean, it is OUR money. Now though, everything is changing, very fast. All the little people, globally, can control their own money now and the banks and hedge fund owners are losing it. I think it's hilarious, they're getting exactly what they deserve!!!
The man had a premonition that someday an alternative currency will be created, and it has since become a reality.
Steem and Steem Dollar is a great thing that happened in the recent times. And yes big economists do feel that there must be something that competes with fiat money. Let's wait and watch how long Steem will go and what it achieves.
Thanks, @boxmining! I've been obsessed with SBD since I first read about them, and now I guess one could say I'm hooked on them! They have the ability to change everything. What makes them so special and different is they already have an extremely strong and very intelligent, loyal community backing them, along with a profitable Platform that is being used successfully and growing quickly ! This will change everything andI'm excited to see just how far SBDs will go :)