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The goal is not to exchange money, it is to again it.

Since I appear to a improbable job rallying up hate. Let’s examine how this goes down.

IMO: The most effective and most sensible case for bitcoin is to again the greenback.
Bitcoin has no sensible use in changing the greenback, however it has fundamentals which are equal to gold, with out the failings.

9 thoughts on “The goal is not to exchange money, it is to again it.”

  1. The Federal Reserve System isn’t really federal at all, and in fact there’s no reserve.

    “Everybody knows that the dice are loaded. Everybody rolls with their fingers crossed.
    That’s just the way it goes.
    And everybody knows.”
    (Leonard Cohen)

    Bitcoin isn’t part of that system.

    That’s what I like.

    Reply
  2. The best and most practical case for the internet is to exchange messages over long distances. The internet has no practical use in doing that (given that there are Phones and Magazines, ever heard of it?), but it has fundamentals that are equivalent to books, without the flaws.

    Reply
  3. It makes no sense for Bitcoin to back cash the way I see it doing so you are just inserting unnecessary counter party risk into the system when all you need is Bitcoin.

    You referenced gold backing cash, that was needed because it was difficult the transport gold across space, Bitcoin doesn’t have that limitation.

    Put another way, gold needed cash to be money, Bitcoin doesn’t.

    Reply
  4. OP you are getting negative responses because it demonstrates lack of understanding the fiat standard and how central banks work, which is key to why Bitcoin is harder money than the dollar.

    That said, your OP could be true only if and when central banks switch from the fiat standard to the Bitcoin standard by buying Bitcoin as the primary asset in their reserves. If this were to take place, dollars become a physical cash representation of Bitcoin wherein Bitcoin could be redeemed for dollars. This is a vision many Bitcoiners would like to see become reality.

    Reply
  5. “best and most practical” is something you think we could, would or should all agree about? i like sushi. it’s the best and most practical lunch. change my mind.

    decisions about “backing” currency are made by people who don’t give a shit what you think, and don’t value the things you value. so what exactly are you discussing here and why?

    Reply

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