“Until your altcoin successfully defeats a coordinated attack like NYA/S2X, with 90% of the hashrate and major businesses trying to force a hard fork, its immutability is untested and its monetary policy is suspect.” -Pierre Rochard

submitted by /u/norrin_syra
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Bitcoin – The Currency of the Internet

“History shows that no government, after going on a fiat monetary system, ever reverses course until its paper currency is destroyed. There is no reason to believe this time will be any different.” – CMI Gold & Silver

https://www.cmi-gold-silver.com/article/gold-standard-inflation-fiat-money/ is the source of the quote.

I did some research on the value of the dollar over the course of US history (at least, as far back as I could find. What I discovered was that the value of the dollar relative to the *median* price of gold over the last 225 years has crashed significantly and not recovered twice. *Only* twice. Once was at the beginning of the great depression, and the other was the minute the gold standard was abolished.

Note: There was a scenario on a similar scale of the great depression during the Colorado Gold Rush of 1859, but this only applies to gold and I think this is due to peoples' tastes and preferences leaning towards gold. The gold rush must have affected demand more than supply, because the price nearly doubled. That's the only thing I can think of to explain it.

Regardless, the price of gold returned to the median in just a little under two decades — very short in the history of the US. Here are the excel graphs I made that caused me to discover this phenomenon. https://imgur.com/a/FpEVl0W

submitted by /u/rektumsempra
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Bitcoin – The Currency of the Internet

Pierre Rochard: “Until your altcoin successfully defeats a coordinated attack like NYA/S2X, with 90% of the hashrate and major businesses trying to force a hard fork, its immutability is untested and its monetary policy is suspect. Bitcoin has earned its keep, its immutability is beyond question”

Pierre Rochard: "Until your altcoin successfully defeats a coordinated attack like NYA/S2X, with 90% of the hashrate and major businesses trying to force a hard fork, its immutability is untested and its monetary policy is suspect. Bitcoin has earned its keep, its immutability is beyond question" submitted by /u/Bastiat
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Bitcoin – The Currency of the Internet

Most people who buy Bitcoin don’t share its political vision; they buy it to get rich. But Bitcoin doesn’t care, they are fueling its rise as a monetary standard. Bitcoin doesn’t need your intellectual acceptance; your self-interest will force you to use it sooner or later.

Most people who buy Bitcoin don't share its political vision; they buy it to get rich. But Bitcoin doesn't care, they are fueling its rise as a monetary standard. Bitcoin doesn't need your intellectual acceptance; your self-interest will force you to use it sooner or later. submitted by /u/xentagz
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Bitcoin – The Currency of the Internet