Quote:
Originally Posted by Skybird
https://www.nytimes.com/2021/01/12/t...-fortunes.html
To me Bitcoins are just FIAT currency units without paper and central bank control. No real money. The features of the security technology might be interesting, but the economic interpretation of the phenomenon is most absurd.
The next wave of symptoms of the Fiat currency crisis promises to become so devastating ion scale and reach maybe that there will be sufficiently strong calls for a return to real money, hopefully, this would put chains both on recklessly spending governments, and companies alike. The road from here to there will be a most rocky one, however. We desperately need a real commodity money again, not this self-deception we currently "pay" with.
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Apologies for resurecting this zombie thread, but What is 'real money'? Do you mean Money backed by a comodity like the US dollar used to be backed by gold? Bitcoin is an effective digital store of value/asset for the time being, Its certainly not money and could never be money due to its many limitations, like fiat currency - its digital, but the similarities end there. In the current climate, it is far better to be invested in almost ANYTHHING but fiat currency. Gold, bitcoin, stocks, real estate, all of those despite their various risks and short comings, will likley all hold their ground far better than central bank issued currency, which, by design only deprieciates in value until it eventually fails and must be replaced.