So I've been hearing a lot lately about a currency called the "US Dollar" but I'm really hesitant to invest in it at the moment. For those of you that don't know, "dollars" are pieces of paper are printed by a centralized authority called the "Fed", which distributes these "dollars" by purchasing Government bonds that keep the government and its people permanently indebted to the Fed. Also, dollars used to be backed by gold, but now nothing really backs them except tradition as far as I understand.
Economically speaking, the dollar started the year at 1/15BTC, which was pretty good at the time, but it then hit an all time low of 1/395BTC on Mt. Gox last Friday. I was thinking that maybe it could be a low and a great time to get in, but I find it a bit scary. Especially when considering that the dollar has lost over 96% of its value over the past year, and the government associated with it is arguably the most fiscally irresponsible organization in the history of the world.
However, it did great at the end of last April and part of this last weekend. Oh, and it was kinda decent in June too. I just don't know...
Whatever shall I do?
Economically speaking, the dollar started the year at 1/15BTC, which was pretty good at the time, but it then hit an all time low of 1/395BTC on Mt. Gox last Friday. I was thinking that maybe it could be a low and a great time to get in, but I find it a bit scary. Especially when considering that the dollar has lost over 96% of its value over the past year, and the government associated with it is arguably the most fiscally irresponsible organization in the history of the world.
However, it did great at the end of last April and part of this last weekend. Oh, and it was kinda decent in June too. I just don't know...
Whatever shall I do?
Awesome
We will all be so freaking rich when people actually talk like that...
