Kinda curious as to why you were given 35 merits for a shitpost and the same guy has merited you many times for only 1-2 merits each time.
I also curious about this.
I search from the merits receive, and i found this :
Copy - Paste
Start from beginning.
Fiat Money is a kind of currency, issued by the government and regulated by a central authority such as a central bank. Such currencies act like legal tender and are not necessarily backed by a physical commodity (most cases GOLD). Good side is that most of fiat money is stable. Stability also allows fiat money to act as a means of storing value and facilitating exchange. Though Fiat Money is considered a stable currency, yet that is not always the case. Economic recessions over the years have highlighted some of the deficiencies associated with Fiat money. The fact that a central bank’s greater control at times does little to stop inflation or recession has led most people to believe that gold could be a much stable currency given its unlimited supply (very bad cuz most government print money when they want and need to).
Cryptocurrency is a form of digital or virtual currency that can work as a medium of exchange. As such they use cryptography technology to process, secure and verify transactions. Unlike Fiat currencies, cryptocurrencies are not controlled by any central authority such as a central bank (yeaaaa). Instead, they are limited entries in a database such as a blockchain that no one can change or manipulate, unless certain conditions are met. Cryptos are available on a click of a button, all over the world. Anyone that can make an online transfer can also acquire and own a digital coin of choice. Lower transaction fees have seen cryptocurrencies emerge as a preferred means of sending money across borders. Transferring money using other bank gateways can be quite expensive given the number of fees charged along the way.
So can we expected to see this in future. Obvious answer is yes in due time.
Archive :
http://archive.is/4QYC3Copy from :
What Is Fiat Money?
Fiat Money is a kind of currency, issued by the government and regulated by a central authority such as a central bank. Such currencies act like legal tender and are not necessarily backed by a physical commodity.
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Stability also allows fiat money to act as a means of storing value and facilitating exchange
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Disadvantages of Fiat Money
Though Fiat Money is considered a stable currency, yet that is not always the case. Economic recessions over the years have highlighted some of the deficiencies associated with Fiat money. The fact that a central bank’s greater control at times does little to stop inflation or recession has led most people to believe that gold could be a much stable currency given its unlimited supply
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A cryptocurrency is a form of digital or virtual currency that can work as a medium of exchange. Being virtual in nature, they use cryptography technology to process, secure and verify transactions.
Unlike Fiat currencies, cryptocurrencies are not controlled by any central authority such as a central bank. Instead, they are limited entries in a database such as a blockchain that no one can change or manipulate, unless certain conditions are met.
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Cryptocurrencies Advantages
Cryptocurrencies are available on a click of a button, all over the world. Anyone that can make an online transfer can also acquire and own a digital coin of choice.
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Lower transaction fees have seen cryptocurrencies emerge as a preferred means of sending money across borders. Transferring money using other bank gateways can be quite expensive given the number of fees charged along the way.
Source :
[1]
https://www.fxempire.com/education/article/the-difference-between-fiat-money-and-cryptocurrencies-520616Most of user who gives him merits got a redtrust, probably merit trading.
