Msg. 40821 of 47202 (This msg. is a reply to
40817 by
Zimbler0)
Jump:
Zimbler:
re: "I gotta ask . . .
Could the U.S. Dollar be incorporated into a 'crypto currency'?"
Sure it could. A crypto currency could be backed with dollars . . . or with gold, for that matter. All that would mean is that a floor would exist to the currency's value. But if the currency gained much value, the number of dollars each coin would buy wouldn't change and would rapidly lose any psychological advantage they might have provided when the currency was cheap.
Consider, for instance, that my son bought $50 worth of bitcoin a while ago. That means he bought 1/30th or so of a bitcoin. If, when bitcoin was just $10, some foolish bitcoin millionaire had announced that he would give bitcoins 10% dollar backing, they would have all had a $1 minimum value. That backing wouldn't change as the bitcoin grew, though, so my son's $50 investment would only have about 3¢ worth of dollar backing today. It would be meaningless so there's no reason for anyone to do it.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
- - - - - The above is a reply to the following message:
Re: �THE FASTEST DECENTRALIZED BLOCKCHAIN IN THE WORLD� JUST SOLVED OUR CRYPTOCURRENCY CONGESTION PROBLEM
By: Zimbler0 in
POPE IV Sun, 24 Dec 17 8:30 AM
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