Post
Topic
Board Announcements (Altcoins)
Re: [UNO] Unobtanium Info & Discussion - Update to 0.10 Wallet - Merge Mine w/BTC!
by
Will2Live
on 02/07/2017, 18:12:13 UTC
"How does one compare fiat currencies to gold and silver? I would say the comparison is somewhat similar. While they both hold value they are valued for different reasons."

Gold and silver are stores of wealth/value, fiat currencies are inflationary and are not stores of wealth, especially when they can be printed to inifinity. Gold and silver are money and have been money for 5000 years, fiat currencies are paper receipts for money, or at least they used to be, since they are no longer backed by anything but the full faith and credit of the nation issuing them.  Fiat means faith, as in, you need to have faith that this piece of paper will still be worth something tomorrow.  Look what happened in Weimar Germany or what is happening to the currency in Venezuela right now, this can't happen to gold and silver because they are real money.  I would argue that Bitcoin, UNO, ETH, DASH, and many of the other digital currencies satisfy the definition of money better than our current fiat currencies.  I wholeheartedly agree about the dangers of a cashless society, which is why we can never allow a FedCoin or EuroCoin or other such nonsense to lure us back into the trap of a centrally controlled economy.  Long live free markets! Long live the blockchain revolution! Long live UNO, the original ROCKCHAIN!!!


For those looking for an easy to understand education on money, check out this series:

https://goldsilver.com/hidden-secrets/episode-1/

If you just want to understand the current scam, watch Episode 4.