CRYPTOMONETE AND GOLD, THIRD POST.
CRYPTOMONETE AND GOLD, THIRD POST. This is the third post, in a series of four. If you haven't read the second post, click here: https://scorum.com/en-us/other/@elohim4/crypt-coins-and-gold-second-post Precisely due to its nature of being born from below, gold met enormous resistance, let us remember the confiscation which took place in the USA, in 1933 below, as well as in Mussolini's Italy, in 1935, and in India in 2016. The adoption of bitcoin, as well as the many cryptocurrencies born later, seem to trace a history similar to gold. They are decentralized currencies, therefore not managed by a centralized institution, such as a central bank or a government. Cryptocurrencies, such as bitcoin, being in limited availability, tend to be deflationary, and not manipulable, so they seem to work like gold when it was used as a currency. Are bitcoin, and other crypto, taking us back to the golden age? In summary, retracing the history of gold, it was considered an ideal metal for the creation of coins, due to its characteristics, but in later times, banknotes gradually replaced gold coins. The first banknotes were certificates convertible into gold, that is, they were representative of a certain quantity of gold, deposited in a bank. So the banknotes had a gold cover, initially guaranteed by private individuals, and then later by kings, governments and central banks. In more recent times, gold has been downgraded, as an instrument of monetary policy, to give life to the current fiat money system, therefore not tied to strict constraints, dictated by the old gold standard. Fiat coins are unrelated to any underlying, so they are created out of thin air, and have no intrinsic value. The only thing that gives value to fiat money is the trust in it, placed by those who use it. Today in democratic countries, the creation and management of money has been transferred from the state to central banks, which are independent bodies, in order to avoid abuse or mismanagement by governments. See you tomorrow for the fourth post. Thanks for watching!
CRYPTOMONETE AND GOLD, THIRD POST.
CRYPTOMONETE AND GOLD, THIRD POST. This is the third post, in a series of four. If you haven't read the second post, click here: https://scorum.com/en-us/other/@elohim4/crypt-coins-and-gold-second-post Precisely due to its nature of being born from below, gold met enormous resistance, let us remember the confiscation which took place in the USA, in 1933 below, as well as in Mussolini's Italy, in 1935, and in India in 2016. The adoption of bitcoin, as well as the many cryptocurrencies born later, seem to trace a history similar to gold. They are decentralized currencies, therefore not managed by a centralized institution, such as a central bank or a government. Cryptocurrencies, such as bitcoin, being in limited availability, tend to be deflationary, and not manipulable, so they seem to work like gold when it was used as a currency. Are bitcoin, and other crypto, taking us back to the golden age? In summary, retracing the history of gold, it was considered an ideal metal for the creation of coins, due to its characteristics, but in later times, banknotes gradually replaced gold coins. The first banknotes were certificates convertible into gold, that is, they were representative of a certain quantity of gold, deposited in a bank. So the banknotes had a gold cover, initially guaranteed by private individuals, and then later by kings, governments and central banks. In more recent times, gold has been downgraded, as an instrument of monetary policy, to give life to the current fiat money system, therefore not tied to strict constraints, dictated by the old gold standard. Fiat coins are unrelated to any underlying, so they are created out of thin air, and have no intrinsic value. The only thing that gives value to fiat money is the trust in it, placed by those who use it. Today in democratic countries, the creation and management of money has been transferred from the state to central banks, which are independent bodies, in order to avoid abuse or mismanagement by governments. See you tomorrow for the fourth post. Thanks for watching!
CRYPTOMONETE AND GOLD, THIRD POST.
CRYPTOMONETE AND GOLD, THIRD POST. This is the third post, in a series of four. If you haven't read the second post, click here: https://scorum.com/en-us/other/@elohim4/crypt-coins-and-gold-second-post Precisely due to its nature of being born from below, gold met enormous resistance, let us remember the confiscation which took place in the USA, in 1933 below, as well as in Mussolini's Italy, in 1935, and in India in 2016. The adoption of bitcoin, as well as the many cryptocurrencies born later, seem to trace a history similar to gold. They are decentralized currencies, therefore not managed by a centralized institution, such as a central bank or a government. Cryptocurrencies, such as bitcoin, being in limited availability, tend to be deflationary, and not manipulable, so they seem to work like gold when it was used as a currency. Are bitcoin, and other crypto, taking us back to the golden age? In summary, retracing the history of gold, it was considered an ideal metal for the creation of coins, due to its characteristics, but in later times, banknotes gradually replaced gold coins. The first banknotes were certificates convertible into gold, that is, they were representative of a certain quantity of gold, deposited in a bank. So the banknotes had a gold cover, initially guaranteed by private individuals, and then later by kings, governments and central banks. In more recent times, gold has been downgraded, as an instrument of monetary policy, to give life to the current fiat money system, therefore not tied to strict constraints, dictated by the old gold standard. Fiat coins are unrelated to any underlying, so they are created out of thin air, and have no intrinsic value. The only thing that gives value to fiat money is the trust in it, placed by those who use it. Today in democratic countries, the creation and management of money has been transferred from the state to central banks, which are independent bodies, in order to avoid abuse or mismanagement by governments. See you tomorrow for the fourth post. Thanks for watching!
My experience in scorum so far
I have been activate on scorum i think for the past 3 weeks,i have seen different type of people,from different location of the world,and i have meet alot of people in these platform people who are very talented,who are good in blogging,like pete,He have been a mentor and inspirational person (pete),to everyone,scorum is my first blogging platform i have ever sign into,toughi sign into these platform beacuse of the the things they talk about in the platform (sports)i am a person that loves sports alot,and what draws my attention more is about the reward they talked about,it is among things that encouraged me more tough am a student i don't have much time to be spending online but still i have to cope to do the both,my main reason of writing these post is to advice new people that are just registering now,to put more effort and never feel like to give up,to br frank with you guys all they are alot of people we started scorum together which i no that have gone much far than me in scorum.What i understand so far from scroum is a platform that need you to give all your best and you have to sacrifice your time and energy,if you can do that am very sure you will go far in scorum,and also you need to be creative alot and no things you will be posting on surely you will succeed thats the little i have to say,as i said before am not good in blogging sorry for all the typing errors.scroum is a very nice and enjoyable platform.my appreciation goes to pete who encourages me alot with his post all the time. Scroum to the world 👐👐👐
My experience in scorum so far
I have been activate on scorum i think for the past 3 weeks,i have seen different type of people,from different location of the world,and i have meet alot of people in these platform people who are very talented,who are good in blogging,like pete,He have been a mentor and inspirational person (pete),to everyone,scorum is my first blogging platform i have ever sign into,toughi sign into these platform beacuse of the the things they talk about in the platform (sports)i am a person that loves sports alot,and what draws my attention more is about the reward they talked about,it is among things that encouraged me more tough am a student i don't have much time to be spending online but still i have to cope to do the both,my main reason of writing these post is to advice new people that are just registering now,to put more effort and never feel like to give up,to br frank with you guys all they are alot of people we started scorum together which i no that have gone much far than me in scorum.What i understand so far from scroum is a platform that need you to give all your best and you have to sacrifice your time and energy,if you can do that am very sure you will go far in scorum,and also you need to be creative alot and no things you will be posting on surely you will succeed thats the little i have to say,as i said before am not good in blogging sorry for all the typing errors.scroum is a very nice and enjoyable platform.my appreciation goes to pete who encourages me alot with his post all the time. Scroum to the world 👐👐👐
My experience in scorum so far
I have been activate on scorum i think for the past 3 weeks,i have seen different type of people,from different location of the world,and i have meet alot of people in these platform people who are very talented,who are good in blogging,like pete,He have been a mentor and inspirational person (pete),to everyone,scorum is my first blogging platform i have ever sign into,toughi sign into these platform beacuse of the the things they talk about in the platform (sports)i am a person that loves sports alot,and what draws my attention more is about the reward they talked about,it is among things that encouraged me more tough am a student i don't have much time to be spending online but still i have to cope to do the both,my main reason of writing these post is to advice new people that are just registering now,to put more effort and never feel like to give up,to br frank with you guys all they are alot of people we started scorum together which i no that have gone much far than me in scorum.What i understand so far from scroum is a platform that need you to give all your best and you have to sacrifice your time and energy,if you can do that am very sure you will go far in scorum,and also you need to be creative alot and no things you will be posting on surely you will succeed thats the little i have to say,as i said before am not good in blogging sorry for all the typing errors.scroum is a very nice and enjoyable platform.my appreciation goes to pete who encourages me alot with his post all the time. Scroum to the world 👐👐👐