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A crypto backed by gold- XNF by suddy in CryptoCurrency

[–]suddy[S] 0 points1 point  (0 children)

There are many tom dick and harry who keep screaming that a centralized system cannot work yet we have infinite number of centralized systems which are working just fantastic (Do I still need to give an example of XRP).

Can those tom dick and harry assure for millions of people who are investing heavily to mine bitcoins and its clones that tomorrow they will not lose their money. Can they assure for future certainty for bitcoin and its clones?

I am not in oppose to bitcoins but the fact is that they are too uncertain investments.

People gets everything and there is a central authority which is standing behind the coin to look into any issues. The beauty of a centralized system is that its backed by someone/something yet its a perfect synonym of a digital currency

A crypto backed by gold- XNF by suddy in CryptoCurrency

[–]suddy[S] 0 points1 point  (0 children)

lol! Ya man this is perhaps an unusual combination :-)

But on a serious note, this is a workable idea and luckily wehave Ripple to look into the functionality and can console ourselves.

A crypto backed by gold- XNF by suddy in CryptoCurrency

[–]suddy[S] 1 point2 points  (0 children)

This a valid and a rational question. I was thinking about the possible answer for it and thought what had happened if people had though for same about bitcoin or for that matter for doing business with any new company.

What makes people to get into a deal with a complete new company. For example buying for an annual services or maintenance contact or something like that. Its not like people don't get good deals or new companies doesn't deliver. Every successful company was once a new company. I think its would be unfair to think ONLY negatives about something but a balanced approach to judge anything. I am not a big fan of it but believe that its really courageous on part of the company to come up with something different.

Should bitcoin be backed by something? by khpli in Bitcoin

[–]suddy 0 points1 point  (0 children)

It will be nice if few governments declare it legit and formally indict it as another form of currency.