Quote:
Originally Posted by villagetinker
IMHO, I will not go near these digital currencies until they are somehow backed by real currency
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So, you hold crypto to a higher standard than what you call “real currency?” Traditional currencies are no longer backed by anything but faith in the system. They used to be backed by gold. The Fed could start printing money like crazy and make what you worked so hard for worthless. My understanding is that you have to work hard to make new crypto coins, but the Fed just has to start the presses. Granted, crypto is very volatile due to speculation. I haven’t bought into it because I really don’t understand it very well and because of the volatility due to people gambling on the price of coins.