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The Collapse of Crypto & Platform(s)

Irag8er said:
But 'm fairly certain in the long run , a wish for a 'One World Digital Currency" is their aim
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Well that wouldn't work. Think Greece in the Eurozone crisis but on a global scale (presuming it's backed against a single economy).
And if it's not backed against an economy, what is it backed against? Thin air?
 
Friendly Engineer said:
Well that wouldn't work. Think Greece in the Eurozone crisis but on a global scale (presuming it's backed against a single economy).
And if it's not backed against an economy, what is it backed against? Thin air?
Click to expand...
I'm no economist, but isn't that what the US Fiat is backed by ?


Why Is Fiat Money Valuable? In contrast to commodity-based money like gold coins or paper bills redeemable for precious metals,
fiat money is backed entirely by the full faith and trust in the government that issued it.
One reason this has merit is that governments demand that you pay taxes in the fiat money it issues.
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What Is The Us Dollar Backed By? - CLJ

Why Is Fiat Money Valuable? In contrast to commodity-based money like gold coins or paper bills redeemable for precious metals, fiat money is backed entirely by the full faith and trust in the government that issued it. One reason this has merit is that governments demand that you pay taxes […]
communityliteracy.org communityliteracy.org
 
Irag8er said:
I'm no economist, but isn't that what the US Fiat is backed by ?

What Is The Us Dollar Backed By? - CLJ

Why Is Fiat Money Valuable? In contrast to commodity-based money like gold coins or paper bills redeemable for precious metals, fiat money is backed entirely by the full faith and trust in the government that issued it. One reason this has merit is that governments demand that you pay taxes […]
communityliteracy.org communityliteracy.org
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No no, I meant if you had a single crypto currency based on the US economy, and then used that as a world currency, what if the US Economy crashed, then all the countries using that crypto currency would crash. Having your own currency allows you to tailor it to your country's needs.
 
I totally get what you're saying about having your own currency to tailor it to your country's needs. It makes a lot of sense to me. Plus, it's always a bit risky to rely on one currency that's tied to a single economy.
 
Block chain was what was supposed to make crypto different.
Does anyone really think any government is going to tolerate a individually custodial monetary system where people national currency bits are stored on a secure private drive. And not in a government noncustodial government server.
My goodness people could by anything with their money and we couldn’t do anything about it or know.

If not then crypto is nothing but a speculative vehicle.
 
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