I find Bitcoin (other virtual currencies are available) very interesting.
I started a thread in the same vein a few months ago, because I'd been reading several authors who advocated a return to a modern gold standard. Said thread died on its arse, as the idea was tantamount to causing a depression and the next world war. (This ignored the fact that Bretton Woods was a de facto gold standard that lasted, fairly successfully, for several decades.)
Yet the architecture of Bitcoin is also based on a fixed amount of currency in circulation. As many people who are worried about their savings are converting them to Bitcoin, is this the inevitable way forward?
I've gone a bit Diable Rouge here …
I started a thread in the same vein a few months ago, because I'd been reading several authors who advocated a return to a modern gold standard. Said thread died on its arse, as the idea was tantamount to causing a depression and the next world war. (This ignored the fact that Bretton Woods was a de facto gold standard that lasted, fairly successfully, for several decades.)
Yet the architecture of Bitcoin is also based on a fixed amount of currency in circulation. As many people who are worried about their savings are converting them to Bitcoin, is this the inevitable way forward?
I've gone a bit Diable Rouge here …
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