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RE: Daily Dose of Sultnpapper 01/28/18 > Put your thinking caps on….
I am happy that your friends got to go to the Statute of Liberty and their holiday was not ruined by the government shut down. I can't wait for the day that we can use crypto instead of fiat. Banks and governments will fight this tooth and nail because, in the end, they will be the losers. They will have no control.
Yes, it worked out for them on the statute. Let's not get confused when talking about currencies, crypto currencies are also a sort of fiat in my view, there is no physical substance like gold or silver backing them either that I am aware of. The key difference is that crypto which we are hoping to push acceptance on is decentralized currencies , meaning no government control. The fiat currencies we use that are in paper form are backed by the hard work and faith of the people who use it. The same holds true for the crypto currencies. The difference is in the transparency of the transactions through block chain technology and recording of the transactions.