EN:
Fifty years ago, an American president announced the removal of the backing of money. Until that date, the backing of the money was said to be "gold". Now we call the papers we have "fiat Currency".
Note: Translated with google translate.
TR:
Bundan elli yıl önce bir Amerikan başkanı paranın arkasındaki dayanağın kaldırıldığını duyurdu. O tarihe kadar paranın arkasındaki dayanağın "altın" olduğu söyleniyordu. Artık elimizdeki kağıtlara "itibari para" diyoruz.
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It's crazy we think that crypto needs to be backed by something of value (which is still my thinking I can't get my head around that yet lol) but this goes to show you the speculation of value of FIAT is the same thing as speculation value of crypto!
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Hello there. You are right. Everything we attribute value is 'reputational'. What adds value to gold is that it is valuable in the eyes of the community. Same with cryptocurrencies. We attributed less value to Bitcoin when the price was $3,000. We thought it was worth more when it was $60,000. This is also the case with fiat currencies. But there is a problem; The institution that pays your salary has a monopoly on printing money.
A share I recommend;
https://peakd.com/hive-110786/@ryzeonline/why-bitcoin-will-beat-the-us-dollar-hive-110786
Fifty years. It's easy to say. "Financial crises happen every ten years." we knew. We can no longer get out of the crisis. Every person faces great difficulties in his own age. Those born in the 1900s were called war children. In the next half century, those who came experienced financial difficulties, coups, civil wars and famines. Let's see what we will talk about for those born at the beginning of the 21st century.
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To support your work, I also upvoted your post!
And it was supposed to be TEMPORARY,...for 50 years.
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