Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by njarboe on Saturday December 09, 2017 @12:34AM
(#15884483)
Gold and silver were a decentralized store of value from about 600BC till 1935AD, so ~2500 years. FDR and Congress made owning gold illegal in 1934 and then the dollar went off the gold standard in 1971. Previous fiat currencies have usually not lasted more that a few generations before they blow up. Now is about the right time for that to happen.
Reading history is fun and can help one understand the present. I'd highly recommend it. "Debt: The first 5000 years" is a great book and a good start at trying to understand what money is/has been.
Reading history is fun and can help one understand the present. I'd highly recommend it. "Debt: The first 5000 years" is a great book and a good start at trying to understand what money is/has been.