A nitpick: the dollar isn’t really money, it’s currency.
Any standard definition of money notes not only its use as a medium of exchange, but also its function as a “store of value”. The USD fails at this. Gold passes that test. And it can be argued that Bitcoin does a better job at it than the USD does.
The USD is backed by “the full faith and credit of the United States government”, in other words, it’s backed by debt.
Yeah that's true. In regards to it being backed by the government though, it's run by the federal reserve which isn't the government even. It's definitely backed by debt though
I like the idea skycoin has for a decentralised internet with a crypto on it... One could have faith that no country could be monetarily attacked like Venezuela was. With a world wide crypto currency on a decentralised internet that would be very difficult to shut down or censor ...
Yeah absolutely!