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| comment | | "parent_author":"justusagenstum",<br>"parent_permlink":"re-nightwind-re-justusagenstum-to-burst-or-not-to-burst-that-s-the-bubble-question-20180119t190933876z",<br>"author":"nightwind",<br>"permlink":"re-justusagenstum-re-nightwind-re-justusagenstum-to-burst-or-not-to-burst-that-s-the-bubble-question-20180120t063225106z",<br>"title":"",<br>"body":"Hard assets are anything of value that are in YOUR possession,<br> gold and silver being an example of large value per size vs per say a 64 corvette. Gold and silver was so easy to hide back then because there were few records of sales the GOV had,<br> many did not give theirs up that was in their possession.\n\nA lot back in those days converted their gold and silver to assets that the Gov could not touch,<br> to transfer the risk of getting caught to those that did not care and saw it as easy assets. Example where I grew up back in the early 70s there was a old german couple that did not have any children and lived very quite on a large farm. After they both passed away the state went in because of no relatives and found over 4 million usd worth of antique cars in the barn.. Hard assets... Today he could have backed 4 million usd in crypto with those assets.\n\nEither you personally would have to have trade in hard assets with your coin or the exchanges would have to have hard assets to back up the exchange,<br> so it would have value.\n\nOtherwise its a ( free driven system ) controlled by the countries fiat currencies its exchanged at and can be shut down very fast by those countries saying that it is illegal to purchase crypto with their fiat currency within the boundaries of their country for security reasons.\n\nThe point is to keep fiat as a base of exchange out of it. Anything that keeps the GOV hands out of it. If their hands are in and tacked to something like a fiat currency. Then the system is only a ( free driven system ) until the GOVs that own those currencies want it to look like it is.\n\nIt would be a very hard system to create for it would challenge fiat and I do not think they would like that. How it could be done is something I would have to think on,<br> main objective would be getting away from fiat. To truly be a \"free driven system\" it can not ride on the backbone of a countries fiat and be considered free. Or i guess you can call it that until the countries say otherwise.",<br>"json_metadata":" \"tags\":[\"steem\" ,<br>\"app\":\"steemit\/0.1\" " |
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