The rest of my "ramblings" were with regard to the subject of this discussion:
Do Bitcoins need something REAL to back them?
not to do with the "ramblings" of yours.
Fair enough. I just assume people are talking to me when they start by quoting me. Sorry for the misunderstanding Do Bitcoins need something REAL to back them?
not to do with the "ramblings" of yours.
I would like to reverse the question: Does fiat need to be backed by Bitcoin instead of "full faith and credit of the State"? I would say, wholeheartedly YES. I doubt this would happen... but if we could get governments to be open again about how much money they have in circulation, and this was tied to the balance a specific Bitcoin address, this would solve the single problem I have with Bitcoin (how difficult it is to trade, especially with no power), and ALL the problems of government-issued currencies. Or am I completely wrong?