Comments by "Harry Mills" (@harrymills2770) on "Bitcoin Backed Currency is a Terrible Idea" video.

@VioletDeathRei Gold has held its value since Roman times. Yes, you can find exceptions. What's worth more? A pound of gold or a drink of water when you're dying of thirst? Gold has intrinsic value and utility, which a piece of paper does not. I'll have to review the "Cross of Gold" speech from the 1800s, which makes the case for getting off the gold standard. Fact is that a solid, gold-backed currency has been the hallmark of stability and prosperity for centuries. It forces governments to live within their means. That's why politicians hate it. They prefer to get re-elected via Ponzi schemes. "You get YOUR thing, I get MY thing! Everybody gets their thing! Just ignore rising prices, bigot!"
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Too easy for Blackrock or Vanguard to stage massive sell-offs when the price is high and get in on the ground floor when the price craters. Too subject to manipulation by big money. It's a great idea, like a wiki is a great idea, until you see how easy it is to hijack.
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