Post
Topic
Board Economics
Re: Do you ever wonders why we are using this paper as money?
by
Snaic
on 04/01/2019, 16:33:35 UTC
Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.
If you learn more deeply how the economy of any state works, you will not write nonsense that the national paper money of states is created from the air. Paper money of the states, their quantity and value depend on the level of development of the state economy and the growth of its gross domestic product. Roughly speaking, the amount of banknotes at par should correspond to the amount of material assets of the state in circulation. The exception to this general rule is only a dollar.
But the cryptocurrency can be said to be created from the air.