Quote from: Toby! on March 11, 2014, 07:54:27 PM

Quote from: bananas on March 11, 2014, 07:46:36 PM

Many journalists have been lately saying that, but it seems they never cared to check fiat currencies.

The concept is absolutely the same.
http://en.wikipedia.org/wiki/Currency_appreciation_and_depreciation

Anyone who read newspaper everyday, is probably sick of reading headlines like " appreciated with the entry of $? usd dollars in the country. Investors are optmistic."(purchase of local currency) or the other way around " devalued with the escape of $? usd dollars from the country. Investors in panick. " ( selling of local currency )

It is the same for gold etc. Before someone says that, gold has an actual use, but bitcoins too.

I think you're confused about what a ponzi scheme is.

No, I think YOU are confused about what a ponzi scheme is.

Fiat backed by nothing printed at will with no fixed supply by the issuer and buyer of last resort.

They have taken the seigniorage away and replaced it with a GAAP debt-slavery system based on credit that does not exist and was originally created not by the lendor but by the lendee!