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by LuminousPath
4823 days ago
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In the end it doesn't matter what your currency is made of, people are going to trade on credit mostly. The creation of fiat currency in the first place was less an attempt to scam the world into devaluing its currency than it was to bring the physical medium in line with the way the economy works anyway. Many say that one of the biggest advantages to bitcoins is the anonymity of the currency, but in the end, it'll probably be its downfall as well. When people can't place a name and location on their debtors, loss aversion tends to kick in. |
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