[ExI] bitcoin again

spike at rainier66.com spike at rainier66.com
Fri Mar 11 17:18:05 UTC 2022


 

 

About 20 yrs ago, we concluded that the critical factor in the value of a
currency is not what is behind the currency, but rather how the supply of
the currency is controlled.  It can be gold backed, silver backed,
government promise backed, it doesn't matter, only that it isn't created
arbitrarily.

 

The US government came to the same conclusion simultaneously, so it borrowed
and spent the value behind its own currency, while Hal's group (BitCoin)
invented a way to control supply of a currency based on compute time,
secured by block chain.  They created a currency representing no actual
value, representing no precious metals or anything else, no government
promises behind it, acknowledging this right up front.  Its only real asset
as a currency is that the supply is controlled in such a way that it is
impossible to counterfeit or print in arbitrary quantities, unlike all fiat
currencies.

 

This is what happened:

 

https://www.google.com/finance/quote/BTC-USD?sa=X
<https://www.google.com/finance/quote/BTC-USD?sa=X&ved=2ahUKEwj3pqyYx772AhUZ
ITQIHQRrDc8Q-fUHegQIGxAS&window=5Y>
&ved=2ahUKEwj3pqyYx772AhUZITQIHQRrDc8Q-fUHegQIGxAS&window=5Y

 

spike

 

 

 

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