What's going on Steemians? The title says it all! Check it out and see what's inside!!!! :-)
Keep earning that crypto, that was always the point!
Jeti Knight
A.P.A.R. Ep.42: The Road To $100 BCC & More!
7 years ago in #cryptocurrency by jetiknight (48)
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I really liked your talk with Ozzy The BS filter on youtube. Great !!!
I am a new follower.
Hi JetiKnight! I got some thoughts on ponzi schemes and I am curious how you think about it.
Isn't every currency, that is not backed by gold or silver or working power a scam?
Because the value of a fiat currency for example is only determant by the believe of the people that they get real goods for it, the currency gets it's value and it crashes if nobody wants to have it anymore. This holds for the Euro, the Dollar and for every cryptocurrency. The more and most important question is how long the currency works so you can get your wealth out before it crashes. So the real difference between the currencies is the time span they are around. Normally a fiat currency lives 60-70 years. That is because the cental banks and governments want to sustain it as long as possible in order to transfer as much wealth from the people to the rich as possible. Then there are other scams that the government doesn't want. So they are expost, deamed illegal and stoped.
I think, that one should look at these things not like: Which currency is a scam but rather which scam lasts long enough to profit from it and which currency does not have too powerful anymies.