Posted on 07/27/2024 6:04:53 PM PDT by SeekAndFind
Nah, there’s a big difference. I don’t even have proof I did something with cash unless I have a receipt. That goes both ways. Right now dealing with estate I am taking only cash for household stuff. If I don’t make a receipt for buyers, I don’t officially have record that this was estate money transacted. Only my honor that those deposits in the account are for the estate.
Same here. In the old days, we had coins made of gold and silver. At least we knew the money was backed by the value of the metal. Then there is paper money, which used to be backed by the government's promise of gold and silver. Paper money now has serial numbers that promise it has the backing of the government to trade for goods. Bitcoin has a crypto serial number scheme, generated by intense computing, that promises value. In that sense, it is similar to paper currency. But lose your private key, and you can't redeem it by trade. Not like paper money at all. At least with banked money you can retrieve your money if you forget your account number. No one else has your private key to your crypto.
Trump gets the discussions going.
Perhaps bringing back the gold standard for US currency is his real motivation.
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