Quote from: flug on June 16, 2011, 04:36:22 PM

Quote from: Gregers on June 16, 2011, 04:27:37 PM

So it's going to be the exact same system we have now, except that you can't print more Bitcoins? What makes that different from going back to the gold standard?

You mean the current US monetary system? I don't live in the US. I live on the internet lol.

Suppose that I crashed into a online shop which accepts the btc, and I can buy the stuff with my bitcion, easy to transfer the money.
But I'm not able to throw a small piece of gold from my home to the shop owner.

And if someone print paper money or creat digital currency backed up by gold, there MUST be a central bank in that system. It cannot be guranteed that the "Back up" promise will ever be kept. You know, Uncle Sam break his words in 1971.