29 Mar '17, 11pm

@BTCTN

@BTCTN

Money, at one time, was considered real wealth and a part of one’s total wealth. It was not simply a system of accounting and a symbolic representation of wealth. People came to accept that their money was not backed by anything but confidence in the issuing federal government and central bank. It seems to me that digital currencies and cashless societies are a natural progression of a centralized monetary system with a controlling issue authority. Bitcoin attempts to remove the central authority and make transactions invisible. But it still remains that digital currencies are simply methods of accounting and “money” has lost an historic characteristic of being real wealth tradeable on its own with no authority and in demand since its discovery. Paper has always been a money-substitute and contract to redeem for real wealth. Any problems with Bitcoin will be problems of ac...

Full article: https://news.bitcoin.com/bitcoin-function-societal-collapse/

Tweets

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Bitcoin

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Bitcoin's

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Bitcoin

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[T]he technology by itself is worth nothing. What is important is the narrative, or the ideal that is being constructed th...

Fact news

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#Bitcoin #News

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After the dip, the price started to ascend upwards once again, climbing above the 4-digit range. On March 21 bitcoin’s ris...