Cryptocurrencies Are Digital Fiat Replicas
Like many of you, I found bitcoin but was not ready for it yet. I didn’t fully understand the fundamentals, such as the trade-offs for true decentralisation, its tether to real-world expenditure via electricity consumption, and its monetary policy based on fixed supply. It was all too foreign a concept, and I was here for […]
50 Years Of Fiat – When Bitcoin Standard?
Over the last week, I saw a lot of people share the “significant milestone” of 50 years since the US Dollar (and all other fiat currencies by association) moved off the Gold Standard in a so-called “temporary measure”. On Aug 15th 1971, President Nixon made his announcement which gave central banks more control over “managing” […]