Canada Kicks Ass
Why China's Digital Currency Doesn't Matter

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Scape @ Sat Jul 24, 2021 5:15 pm

   



DrCaleb @ Sun Jul 25, 2021 6:17 am

Most digital currencies don't matter. They are the pinnacle of fiat currencies - they only have value because people are willing to trade other (real) currency for them. They don't represent any other value.

   



CDN_PATRIOT @ Sun Jul 25, 2021 6:26 am

DrCaleb DrCaleb:
Most digital currencies don't matter. They are the pinnacle of fiat currencies - they only have value because people are willing to trade other (real) currency for them. They don't represent any other value.


Exactly. They'll be gone as quickly as they arrived, and good riddance.

-J.

   



llama66 @ Mon Jul 26, 2021 11:38 am

DrCaleb DrCaleb:
Most digital currencies don't matter. They are the pinnacle of fiat currencies - they only have value because people are willing to trade other (real) currency for them. They don't represent any other value.

I'm sure someone said that when we began to transition from the bartering system millennia ago.

   



DrCaleb @ Mon Jul 26, 2021 11:59 am

llama66 llama66:
DrCaleb DrCaleb:
Most digital currencies don't matter. They are the pinnacle of fiat currencies - they only have value because people are willing to trade other (real) currency for them. They don't represent any other value.

I'm sure someone said that when we began to transition from the bartering system millennia ago.


And when bartering turned out to be an unfair and unpredictable form of commerce, they based it off of things that people wanted. Shells, copper coins, gold, and now economic output. The value is all based on the amount of work done to make (or find) them.

But digital currency is simply awarded randomly. More like bartering than money.

   



llama66 @ Mon Jul 26, 2021 1:13 pm

All things must move in a circle. I think.

   



Scape @ Mon Jul 26, 2021 1:35 pm

Digital currency is the new version of art. It's all based upon hype. However, the art world has billionaires locking up art in vaults for no one to see so they can launder the hype into real coin.

   



DrCaleb @ Tue Jul 27, 2021 8:42 am

Image

Remember: if it sounds too good to be true, it almost certainly is.

   



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