• explodicle@sh.itjust.worksEnglish
    1·
    6 months ago

    Long gone are the days where the banknote you are holding represented an actual piece of something valuable in some vault.

    This was bad even before digital currencies

    roll back the clock on all this

    For better or worse, Bitcoin is an attempt to do just that, to recreate a limited deflationary monetary system like the gold standard.

    • A_norny_mousse@feddit.orgEnglish
      1·
      6 months ago

      recreate a limited deflationary monetary system like the gold standard

      I don’t know enough about Bitcoin or the gold standard to concur, but I’d agree that the original idea of Bitcoin wasn’t bad, compared to where we are now.

      I used to take part in a moneyless exchange system. One main idea was that your credits decreased in value if you just left them on your account, thus making capitalism impossible, and encouraging people to keep it all alive.