Ninjastic
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Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
bitrider
on 03/08/2014, 18:15:44 UTC
Quote from: justusranvier on August 03, 2014, 04:07:29 PM
Quote from: Trader Steve on August 03, 2014, 04:01:11 PM
While the concept of a "necessary backing" is a fallacy in my book
"Backing" is a kind of awkward hack that attempts to limit the production of currency.

Exactly. "an awkward hack" because we had no alternative.