Quote from: Hydrogen on September 17, 2018, 10:57:08 AM

Fiat money, gold and precious metal standards and crypto currencies are all barter systems imo. I know economics academics might disagree with this notion. There isn't a massive or substantial difference separating a farmer exchanging 12 chickens for a goat or a consumer purchasing an internet domain name for 0.0005 bitcoins.

Introducing a happy medium of currency makes it easier for buyers and sellers to achieve a universal standard of barter item which can be utilized by everyone and exchanged for anything. This can result in markets which are more flexible and efficient which roughly translates to greater economic prosperity and wealth. Despite this innovation, financial transactions are still derived from tit-for-tat barter systems.

Some believe the US dollar has not truly been backed by gold since the guarantee of each dollar being exchangeable for its value in gold was removed as a legal protection in the 1970s. People are always looking for new evolutions and progress in terms of money. Unfortunately its often defined in terms of small players being afforded less protections and options, while big players at the top of the food chain are granted additional protections. Perhaps @ some point we'll define it in terms of a paradigm shift towards a more balanced approach. But it would seem that day has not yet come.

Still many rich people not aware of the crypto currencies if they knows then they will get interested on investing on it which make the prices to move further but that is not the growth we wanted we want the people to use it because it can give the freedom of using their money on their own maybe the day not yet come but surely the day will come for that let's hold our hands together and make the bitcoin recognized by common man.