Topic: Should bitcoin be backed by something like bullion? - page 2. (Read 2017 times)
E-Gold already tried that and it ended in tears
Well no it's already backed... by us miners...
Backing it means there has to be someone who backs it.
That means that you have to trust that someone and that there has to be some sort of gain for the someone who does the backing so he does his job.
This creates the very problems that Bitcoin tries to solve, so it isn't a good idea.
That means that you have to trust that someone and that there has to be some sort of gain for the someone who does the backing so he does his job.
This creates the very problems that Bitcoin tries to solve, so it isn't a good idea.
Very well said I agree to it would become centeralised rather than decenteralised.
Backing it means there has to be someone who backs it.
That means that you have to trust that someone and that there has to be some sort of gain for the someone who does the backing so he does his job.
This creates the very problems that Bitcoin tries to solve, so it isn't a good idea.
That means that you have to trust that someone and that there has to be some sort of gain for the someone who does the backing so he does his job.
This creates the very problems that Bitcoin tries to solve, so it isn't a good idea.
XNF-NoFiatCoin is a digital currency backed by bullion which can be redeemed at anytime. Should bitcoin also be backed by bullion in future so that it can attract more and more people?
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