I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?
https://www.youtube.com/watch?v=jujwQkhnoU8I think you are totally confused man. First of all, you said that you dont like bitcoin and next youre saying that you dont like fiat too and that is because it backed by debt.
What are you even saying? Okay, assuming I ask you what is bitcoin backed with, what would you say? Bitcoin is backed by fiat which we the people invest in it
yes, thats true, although some people will disagree. And as for fiat, fiat is not backed by debt. Correct yourself, cause youre totally confused.