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[–] toobaditworks [S] 0 points 1 point (+1|-0) ago 

Yeah every jew banker on the planet hates crypto yet they all invented it... good one.

Cryptocurrency is the most perfect fiat currency ever created, you stupid fucking lunatic. WHERE’S THE MONEY? WHERE’S THE SPECIE? WHAT BACKS IT?

Fiat is money that is printed/issued by a government in which the supply can increase whenever they feel like increasing it.

Crypto's are not printed/issued by a government and have a limited supply which is regulated by code. Therefore crypto's can't be fiat.

WHERE’S THE MONEY?

The money is electronic and can be stored in a number of ways. It can be held by the end user in cold wallets, stored on usb drives, or other ways like Databunker, Fidelity Digital Assets, and bakkt.

WHERE’S THE SPECIE?

I don't know what this is.

WHAT BACKS IT?

Coins like bitcoin are backed by it's usage/adoption and by people who want decentralized currencies to replace the corrupt central bankers and federal reserve. Other crypto's like USD Coin and other stable coins are backed by the US dollar or other government currencies and some crypto's are backed by gold.

I hope this has been a learning experience for you.

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[–] Tallest_Skil 1 point -1 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

  1. Yet.
  2. So? Private institutions aren’t better.

and have a limited supply which is regulated by code.

  1. And yet infinite cryptocurrencies can be created.
  2. And yet cryptocurrencies NOT limited by code can be created.

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.

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[–] toobaditworks [S] 0 points 1 point (+1|-0) ago 

I learned that you claimed that some crypto is gold backed. I’d like to hear more about those.

Here's a few articles on these:

The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint. The digital certificates are 100% gold backed and guaranteed by the Government of Western Australia, which is the sole owner of the 120-year-old mint.

https://www.coindesk.com/australias-gold-mint-is-backing-a-crypto-token-on-ethereum


Working with wallet provider Blockchain and precious medal trader MKS (Switzerland) SA, the U.K.-based firm announced Tuesday a gold-backed network for trading tokens representing digitized physical gold, a project two years in the making.

https://www.coindesk.com/coinshares-blockchain-launch-gold-token-network-on-a-bitcoin-sidechain


Paxos, the New York-based exchange and stablecoin issuer, just launched a gold-backed crypto asset called Pax Gold (PAXG), with each ethereum-based token encapsulating the legal title to a physical bar of gold stored in the Brink’s London vault. Pax Gold has been approved by the New York Department of Financial Services.

https://www.coindesk.com/paxos-launches-gold-backed-cryptocurrency


Here's another: gold-backed KaratGold Coin (KBC)but it's being investigated in Florida.

Florida regulators are investigating Karatbars, a German company that’s been promoting a token tied to a Miami “crypto bank” without any banking license in the state.

https://www.coindesk.com/gold-backed-crypto-tokens-promoter-investigated-by-florida-regulators