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by kenneth
1944 days ago
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We used to have that system on top of gold but we killed it a bit over 40 years ago. It was called the gold standard and most of the world ran on it. We need a version of it where the powers can't just say screw it, let's can it and make a bunch of new money out of thin air and you're all forced to accept it and use it. |
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The notion of making a currency based on a precious metal has one advantage only: fixed supply. And this is not much of an advantage.
As far as currencies go, if you want such a currency, then based one off of Gold, not BTC.
If you want a store of value, that's easy - just buy gold if that's what you want.
If you don't trust the Central Bank wherever you are, the don't hold that currency. Buy other currencies, real estate, commodities etc.
There's no point in BTC.