[–] Tallest_Skil 1 point -1 points 0 points (+0|-1) ago
Yeah every jew banker on the planet hates crypto
[citation needed]
Fiat is money that is printed/issued by a government in which the supply can increase whenever they feel like increasing it.
No... fiat is currency by mandate. Crypto is currency by mandate. It is not a store of value. It has no intrinsic worth. Just like the pieces of cloth in our pockets.
Crypto's are not printed/issued by a government
and have a limited supply which is regulated by code.
The money is electronic
No, that’s not what money is. Words have definitions.
and can be stored in a number of ways
All of which are useless when the power goes out.
I don't know what this is.
So maybe do some research on a topic before pretending to know about it.
Coins like bitcoin are backed by it's usage/adoption
So... FIAT.
Other crypto's like USD Coin and other stable coins are backed by the US dollar
So... fiat by proxy. Or double fiat, however you want to look at it.
some crypto's are backed by gold.
Now there we go. You show me the ones that are, and I’ll show you an actual claim check to real money. What the US dollar used to be.
I hope this has been a learning experience for you.
I learned that you claimed that some crypto is gold backed. I’d like to hear more about those.
[–] toobaditworks [S] 0 points 1 point 1 point (+1|-0) ago
Here's a few articles on these:
https://www.coindesk.com/australias-gold-mint-is-backing-a-crypto-token-on-ethereum
https://www.coindesk.com/coinshares-blockchain-launch-gold-token-network-on-a-bitcoin-sidechain
https://www.coindesk.com/paxos-launches-gold-backed-cryptocurrency
Here's another: gold-backed KaratGold Coin (KBC)but it's being investigated in Florida.
https://www.coindesk.com/gold-backed-crypto-tokens-promoter-investigated-by-florida-regulators