Quote from: Kakmakr on July 28, 2018, 06:02:55 AM

This was a very good article indeed, I liked this phrase, "Community agreed digital barter Grin

I watched an episode of "Decoded" on Netflix yesterday and they were asking questions about the Gold that was supposed to be stored in Fort Knox and most of the people that worked there or knew people that worked there, are of the opinion that Fort Know has no Gold at all. One of the previous Senators even said that if the citizens of America knew about this, then there would be a financial collapse and riots in the streets.

That day will come, and then Bitcoin will be used as a alternative to the Dollar and all the other Fiat currencies that will collapse as a ripple affect of the Dollars collapse. Roll Eyes

Thank you for the kind words. Yes, Federal Reserve maintained the gold reserve until 1971 for every dollar in circulating supply. Now we use fiat, which is backed by the utility of paying taxes in dollars. Fiat simply means "let it be done", a king's order. We don't need fiat currencies to collapse, in order for stable cryptocurrencies to be used as "valid currencies". If we are successful to create a cryptocurrency, with less than 5% volatility, third world countries can benefit a lot. Once third world countries give recognition to such a cryptocurrency, it may enter the realm of "valid real-valued currency".