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We could use African pure gold as currency, even though it is not easy.
We did it before and it could work. However since we are in a new age and new tech era, Bitcoin could be the ultimate solution!
Do you agree?
abib3 Comments-
21,634
Abibisika (Black Gold) Points
I disagree
Any currency that is not backed by hard assets is just a make-believe currency, just like the USA fiat Dollar.
Fiat currency is a government-issued currency that is not backed by a physical commodity, like gold or silver. Instead, its value comes from the public’s trust in the government that issues it.
How does fiat currency work?
The value of fiat currency is based on supply and demand. In other words; FEAR and GREED
The government can increase the money supply to help stabilize prices and prevent deflation.
Central banks control fiat currency to help manage interest rates and credit supply.
How does cryptocurrency differ from traditional currency?
Cryptocurrencies are not legal tender, unlike traditional currencies that are backed by a government.
Cryptocurrencies are decentralized and unregulated, unlike traditional currencies that are centralized and controlled by a central bank.
Risks of cryptocurrency
Cryptocurrencies are highly volatile (thrive on chaos), and there is no recourse (Peace) if you lose your crypto.
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167,515
Abibisika (Black Gold) Points
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So what is your solution Bakari?
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