We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).
What do you think about this idea?
What do you think about this idea?
The price of anything should be based on supply and demand. There is no other way -- you can't have a group of people create an asset class out of thin air and claim the total value of this asset pool must be equal to the total value of all the dollars in the world.
That said, the capital markets are heavily manipulated by the global political and financial elites. Market forces play a role, but most of the problems are ultimately caused by elite manipulation. Bitcoin is a force that weakens this manipulation.
