The dollar is ending as a world reserve currency - Dead by 2018, probably sooner - page 2.

FutureMoneyTrends

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Quote from: Balthazar on September 26, 2014, 06:38:11 PM

Quote from: FutureMoneyTrends on September 26, 2014, 06:04:00 PM

Sounds like a good solution. Isn't bitcoin basically backed by computer chips (processing power)?

Nope quite due to fixed coins supply. There is no direct correlation between the price of coin and cost of used resource. Roll Eyes

Will supply restrained; price will more align with cost

Balthazar

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Quote from: FutureMoneyTrends on September 26, 2014, 06:04:00 PM

Sounds like a good solution. Isn't bitcoin basically backed by computer chips (processing power)?

Nope quite due to fixed coins supply. There is no direct correlation between the price of coin and cost of used resource. Roll Eyes

CripLib

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Crypto Liberty

Thank you for the documentary. Very interesting!

FutureMoneyTrends

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Quote from: Balthazar on September 26, 2014, 05:41:23 PM

Quote from: FutureMoneyTrends on September 26, 2014, 04:48:09 PM

Quote from: Balthazar on September 26, 2014, 04:32:44 PM

Dollar can't die because it's not alive, it's undead since 1971. However, the ~~wooden~~ golden stake could be useful.

You think a gold standard will finally take it down? Who will initiate it, eastern powers or IMF/G7?

There is a project of energy backed currency which is proposed as the common currency for EEU nations. With energy backed currency you always have an opportunity to exchange your stash for Kilowatt-hours at fixed ratio. That could be a basis of reliable system.

Of course nations could prefer to use gold standard for their currencies but I think that energy backed currency will be more attractive for international transactions in comparison with golden stanbdard. Gold based system is less adaptive than energy-based system.

Sounds like a good solution. Isn't bitcoin basically backed by computer chips (processing power)?

but energy prices can change substantially; but maybe not more variable than gold or oil

Balthazar

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Activity: 3108

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Quote from: FutureMoneyTrends on September 26, 2014, 04:48:09 PM

Quote from: Balthazar on September 26, 2014, 04:32:44 PM

Dollar can't die because it's not alive, it's undead since 1971. However, the ~~wooden~~ golden stake could be useful.

You think a gold standard will finally take it down? Who will initiate it, eastern powers or IMF/G7?

There is a project of energy backed currency which is proposed as the common currency for EEU nations. With energy backed currency you always have an opportunity to exchange your stash for Kilowatt-hours at fixed ratio. That could be a basis of reliable system.

Of course nations could prefer to use gold standard for their currencies but I think that energy backed currency will be more attractive for international transactions in comparison with golden stanbdard. Gold based system is less adaptive than energy-based system.

FutureMoneyTrends

sr. member

Activity: 325

Merit: 250

Quote from: Balthazar on September 26, 2014, 04:32:44 PM

Dollar can't die because it's not alive, it's undead since 1971. However, the ~~wooden~~ golden stake could be useful.

You think a gold standard will finally take it down? Who will initiate it, eastern powers or IMF/G7?

Balthazar

legendary

Activity: 3108

Merit: 1359

Dollar can't die because it's not alive, it's undead since 1971. However, the ~~wooden~~ golden stake could be useful.

FutureMoneyTrends

sr. member

Activity: 325

Merit: 250

Making some good room for bitcoin?

Topic: The dollar is ending as a world reserve currency - Dead by 2018, probably sooner - page 2. (Read 1808 times)