Gold and silver are not backed by anything because they are true
money. You must know that and writing to us like we are dummies.
Cryto is currency, not money. The world is awash with currency,
when it really needs money not backed by debt. Cryto's are not
backed by debt but by algorithms, something for nothing,
basically. But, they work as a currency.
I would be positioning myself for they next phase of cryto-money.
RE: Can Gold & Silver Be Put On The Blockchain?
You are viewing a single comment's thread from:
Can Gold & Silver Be Put On The Blockchain?
Gold and silver have a long history of being accepted as money, and they fulfill all the usually accepted requirements for money. Crypto does too though. It just doesn't have the long history behind it. People can make anything they want into money.
The key is that crypto is not backed by debt, and it is also not centrally controlled by banks. Those two reasons alone make it far superior for people to use. The world is in the mess it is in today mostly because of our debt based system. We need to change that, and crypto is helping to change it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit