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A comment on Ask HN: What's a promising area to work on?. Parent comment

Re:Ask HN: What's a promising area to work on? by tossAfterUsing on Tuesday October 22, 2019 @02:03PM (#21326779)
cryptocurrency will never replace gold-backed fiat currency.
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Re:Ask HN: What's a promising area to work on? by johnmorrison on Tuesday October 22, 2019 @05:56PM (#21328850)
Fiat currency is not backed by gold, in fact, it is not backed by anything.

Also, gold is not inherently valuable. It will become a regular common metal once we shift extraction to the asteroid belt.

The truth is there really isn't much with "inherent" value out there, with the notable exception of potential energy.

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Re:Ask HN: What's a promising area to work on? by Qasaur on Tuesday October 22, 2019 @02:23PM (#21326985)
“The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” - Paul Krugman
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Re:Ask HN: What's a promising area to work on? by tossAfterUsing on Tuesday October 22, 2019 @03:36PM (#21327705)
Paul Krugman - the original stable genius
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Re:Ask HN: What's a promising area to work on? by omarchowdhury on Tuesday October 22, 2019 @02:59PM (#21327322)
Pray tell which fiat currency is gold backed.
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Re:Ask HN: What's a promising area to work on? by tossAfterUsing on Tuesday October 22, 2019 @05:35PM (#21328717)
us dollars. obivoulsy
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Re:Ask HN: What's a promising area to work on? by omarchowdhury on Tuesday October 22, 2019 @05:37PM (#21328735)
U.S. dollars aren't gold backed.
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Re:Ask HN: What's a promising area to work on? by FloresHernandez on Tuesday October 22, 2019 @02:19PM (#21326947)
There is no gold-backed fiat currency.
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