this post was submitted on 10 Jul 2025
265 points (98.9% liked)
World News
37047 readers
491 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
This is also funny in the sense that one of explanations of Bitcoin is "digital gold" - that world economies and societies went in a wrong direction once they stopped being gold-backed, except gold and everything RL is controlled by governments, while Bitcoin is a subject to freedom of speech and whatever.
An already archaic viewpoint TBH, that many even western governments respect freedom of anything and human rights. And in another sense too archaic - the idea that a currency being gold-backed is something valuable was kinda libertarian around year 2007.
Which is also an answer to people saying that Bitcoin is not backed by anything (like country's economy in this sense and not technical ability to exchange it for gold), it's the main cryptocurrency, and it seems to work well enough despite high volatility.
This won't be a circle though. Today they really like their control and surveillance. A gold-backed currency is where anyone owning N of M can exchange them to gold with which an M is guaranteed by a rate that doesn't change, load that gold into bags, carry it to another country, go to a bank and exchange that gold to its currency. Perhaps declaring that they are carrying that gold at customs.
Gold-backed for governments - we-ell, maybe in some way.