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RE: All Wealth Is Created Out Of Thin Air

in #blockchain7 years ago (edited)

रघुकुल रीत सदा चल आई, प्राण जाई पर वचन न जाई

This is most famous chopai from Ramayana. And it is the center of all currencies, tokens etc. The issuer of the currency has to defend the buying power of the currency with his/her blood. In case of cryptocurrencies the trust is something that is now being maintained by cryptography.

And value we participants/hodlers are assigning to them. The reason we looked around for alternative is simple - the issuers of fiat currencies worldwide have not kept their promises i.e. the purchasing power.