FIAT like USD is basically created out of thin air, smartcoins such as BitShares bitUSD/CNY/HERO are backed by 2x of real valuable underlying assets.

in fiat •  8 years ago 

Strongly recommend watching this video, the easiest breakdown of how insane the FIAT world really is.

To break it down:

FIAT is created out of thin air > debt > more thin air > endless circle

And this is why I crypto.

fiat smartcoin hero bitusd
8 years ago by

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      ·  8 years ago (edited)

    @ash I can't thank you enough for sharing this. The lies and factors surrounding e-currencies, cryptos and many more financial instruments within this category is basically the reason why the gullible often loose money to it, and those who know the in-depth of how things work, know when and how to make really good money out of it.
    My advice:

    • don't invest into something you are not confident about (do your homework before investing).
    • don't invest what you can't afford to lose.
    • Make sure you have a second source of income if you want to trade currencies(crypto or not).

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      ·  8 years ago 

    "Don't invest into something you don't understand," understanding being a precursor to confidence, is why BitShares is so undervalued.

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      [-]
        ·  8 years ago 

      I'm an accountant and I stopped doing it because I hate dwelling on this topic and house of cards. Things have been propped up for a lot longer than I thought they would last. Someone is rigging something - or many things.

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      [-]
        ·  8 years ago 

      nice post. I like it...

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        [-]
          ·  8 years ago 

        FIAT currencies time has gone ... now its the time BTC SBD BitShares bitUSD CNY and Hero...
        nazirkhyber_01.JPG

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          [-]
            ·  8 years ago 

          That video is actually 1 of a 7 part series in which Mike Maloney (owner of goldsilver.com) brings us on a journey from the creation of money all the way through history to where we are today with worthless fiat currency.

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            [-]
              ·  8 years ago 

            Mike Maloney is a brilliant economist. I start investing in bullion after watching his videos

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              [-]
                ·  8 years ago 

              Makes sense! I hold gold in my portfolio too

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                [-]
                  ·  8 years ago 

                I agree!

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                    ·  8 years ago 

                  Insightful video that help me make sense of money :) A little deep and requires some mental digestion at times but thought-provoking.

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