Ninjastic
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Board Speculation
Re: Returning to gold standard?
by
traderCJ
on 12/02/2016, 08:36:47 UTC
Quote from: arbitrage on February 11, 2016, 10:41:18 AM
Quote from: traderCJ on February 11, 2016, 08:37:53 AM
Quote from: kwukduck on February 06, 2016, 02:02:50 AM
Ah yes Gold. Thé resource with amazing intrinsic socially constructed value.

Oh the irony Roll Eyes  If anything has a socially constructed value, it is a cryptocurrency.  In this respect, it is very much like fiat.  What is the actual value of an entry in this distributed ledger we call Bitcoin?  It's anyone's guess.
Bitcoin has potential and it's a great idea but have no chance to change anything in monetary system of the world.I'm afraid if governments wants, they gonna make payment system based on blockchain customized for their purposes.

Correct, China's PBOC is already working on their own proprietary blockchain-based currency.  The Fed has disseminated whitepapers for their own "Fedcoin" currency, as well.  Governments can tolerate a lot of dissent, but unregulated currencies are something they absolutely will not tolerate.