tim... wrote:

"The Natural Philosopher" wrote in message
news
On 05/01/18 23:28, Cursitor Doom wrote:
On Fri, 05 Jan 2018 21:08:22 +0000, Brian Gaff wrote:

Well I thought all normal people realised this long ago, this is why all
the bitcoin spam is automatically dumped in my spam folder.
Its really no different to all that buying up of debt the last time
around.
In the end if nobody allies any kind of currency to something people
want its worthless.

And what is it actually backed by? Just number-crunching, zillions of
computer cycles and electricity bills, ergo precisely nothing of what
people want or need.




A bit like gold,

gold has a utility value - albeit one lower than its investment value

bits of printed plastic paper

The value of bits of printed pa[per is underwritten by a government.
There's also no speculation in their value. They are worth a pound
yesterday, today, tomorrow and next year.

I thought currency speculation was actually rather rife! Or are you
with Harold Wislon on this?




or cowrie shells then

agreed, but times were different then


They are still used in rural bits of West Africa as well as elsewhere.

--

Roger Hayter