Tagged Gold Standard

Blockchain-Based Currency is Not the Money We Know

Any money that you would find around the world is based on fiat system as of Nixon’s administration. We have come at least 40 years since the markets learned what any representative currency, much like gold standard and possibly Bitcoin, no longer works; having limited number of something does not automatically qualify for being a good medium of currency. Users behind Bitcoin must learn putting “works” to mine Bitcoin does not justify the current boom in cryptocurrency, and to do otherwise is plain gambling.