Scarcity my friend is a valuable thing :)
Discussion
How is bitcoin different than a well known and implemented gold backed currency?!
😀
A gold backed currency rely on trusted third parties. This I why gold failed. Gold don't scale without fail. Corruption is inevitable in a system based on trust. Bitcoin minimize trust throughout the system by design. There is more... Read up on bitcoin and you will be amazed.
The reason for golds failure is not the scaling, as money is quite scaled as a function, but the fact that the gold was spent paying for wars to feed consumerisms never ending hunger.
I’m afraid the idea of corruption is not justified as an excuse since it’s the people that should and must be in power and not corporations and governments, from which bitcoin without offering any significant social value, favors corporate and government interests, more than the people.
To elaborate, a mega corporation invests its entire profits into bitcoin, and then to force the markets, pulls out all of it, which sinks the value, costing the average Joe getting salaries in bitcoin to pay for the party.
So regulators set in and voila, for money to work, the same strict regulations become law, and the flaws inherited, and as bitcoin by itself doesn’t create fundamental value to replace a working gold standard, difficult to understand why people would want to go through change without any real reason.
OK I see where you are coming from, I will let you be.
Nobody is arguing that digital money is the way forward, but the humble suggestion is to refactor and resolve the problems that the current structure of money has as well, since inheriting those problems to digital money only amplifies the problems.
The form doesn’t matter when the function is flawed is all, and denial a river flowing and wide in Egypt.
The reason for golds failure is not the scaling, as money is quite scaled as a function, but the fact that the gold was spent paying for wars to feed consumerisms never ending hunger.
I’m afraid the idea of corruption is not justified as an excuse since it’s the people that should and must be in power and not corporations and governments, from which bitcoin without offering any significant social value, favors corporate and government interests, more than the people.
To elaborate, a mega corporation invests its entire profits into bitcoin, and then to force the markets, pulls out all of it, which sinks the value, costing the average Joe getting salaries in bitcoin to pay for the party.
So regulators set in and voila, for money to work, the same strict regulations become law, and the flaws inherited, and as bitcoin by itself doesn’t create fundamental value to replace a working gold standard, difficult to understand why people would want to go through change without any real reason.
The reason for golds failure is not the scaling, as money is quite scaled as a function, but the fact that the gold was spent paying for wars to feed consumerisms never ending hunger.
I’m afraid the idea of corruption is not justified as an excuse since it’s the people that should and must be in power and not corporations and governments, from which bitcoin without offering any significant social value, favors corporate and government interests, more than the people.
To elaborate, a mega corporation invests its entire profits into bitcoin, and then to force the markets, pulls out all of it, which sinks the value, costing the average Joe getting salaries in bitcoin to pay for the party.
So regulators set in and voila, for money to work, the same strict regulations become law, and the flaws inherited, and as bitcoin by itself doesn’t create fundamental value to replace a working gold standard, difficult to understand why people would want to go through change without any real reason.
The reason for golds failure is not the scaling, as money is quite scaled as a function, but the fact that the gold was spent paying for wars to feed consumerisms never ending hunger.
I’m afraid the idea of corruption is not justified as an excuse since it’s the people that should and must be in power and not corporations and governments, from which bitcoin without offering any significant social value, favors corporate and government interests, more than the people.
To elaborate, a mega corporation invests its entire profits into bitcoin, and then to force the markets, pulls out all of it, which sinks the value, costing the average Joe getting salaries in bitcoin to pay for the party.
So regulators set in and voila, for money to work, the same strict regulations become law, and the flaws inherited, and as bitcoin by itself doesn’t create fundamental value to replace a working gold standard, difficult to understand why people would want to go through change without any real reason.
People paying for parties of war and conflict is nothing new in history, but question is whether corporations should have interests in serving their own interests, rather than people’s.