Quote from: timerland on August 05, 2018, 09:40:25 PM

However, I don't really see a need for a gold backed crypto.

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Bitcoin itself is perfectly capable of storing its value in the long run because of its decentralization, and the fact that supply is limited, means that it can essentially imo be an alternative to fiat without the uncontrolled depreciation in the long run, even without a gold backed crypto.

I was going to say this. Why do we need a gold-backed crypto if we have bitcoin? Also, gold is valuable because people believe it is valuable, it has some psychical applications, of course, but those applications were more valuable 2,000 years ago than they are today.

Quote from: audaciousbeing on August 06, 2018, 05:13:58 AM

When it comes to debt, its management is what matters and not the amount involved.
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Most of the debts is the cumulation of individual debts from mortgages, credit cards, insurance, health benefits, car loans etc which are owed to corporations. This corporations would be able to defer the tax they are to pay till when they receive these payment depending on what the tax law specifies. Put all these together, you realise technically majority of the debt don't exist and if its continued to be managed, there is no cause for alarm.

Very interesting. I never thought of it that way. Although I think many people disagrees with you.