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A comment on Blockchain intelligence firms link North Korea to $6.3B hack on Binance. Parent comment

Re:Blockchain intelligence firms link North Korea to $6.3B h... by littlecranky67 on Saturday October 31, 2026 @04:25AM (#50314176)
Yes you can pick individual outliers, but clearly the world economy has been growing on a gold-based (or other shiny object backed) currency for literally thousands of years all over the world. Picking out individual cases is literally like looking at the 0.1%. Or do you seriously claim we had stagnation in the thousands of years of civilization, and only started to have groth since 1971? Then I know who is the ignorant one.

See also: https://wtfhappenedin1971.com/

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Re:Blockchain intelligence firms link North Korea to $6.3B h... by cyberax on Saturday October 31, 2026 @04:51PM (#50320088)
So episodes of deflation that inevitably resulted in stagnation are "outliers" and thus don't matter.

> Or do you seriously claim we had stagnation in the thousands of years of civilization, and only started to have groth since 1971?

The economic systems have not been based on precious metals for quite a while. There simply has not been enough gold (or silver) to back up the economy for at least 200-300 years. Instead, the global economy was based on the _promise_ of getting gold.

In other words, fiat money.

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