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RE: Cryptocurrencies Are Blowing Central Banks Out Of The Water - with Jeff Berwick

in #money7 years ago

Unfortunately cryptos cannot be backed by precious metals because the metals would have to be stored in a stated location ie not decentralised and then transactions would also have to have faces behind them and with faces come taxes, government seizures and freezes etc all the kind of stuff that make cryptos attractive would be gone and well we are back to fiat currencies i guess.