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I didn't say he had invented it yet...

Though I like the hyperloop idea
Even that has it's roots in existing tech, like those tubes they used to have for moving paperwork and cash in some old stores and offices, and a Victorian experimental rail system.
 
Thanks for that AeM.
Still don't get what they are.
Seems nothing tangible and nothing to guarantee you hard earned.
Just seems, to me, that someone invented them and people jumped on the bandwagon.
I suppose it's OK as long as people believe?
You do understand what promissory notes are don't you? They're exactly the same except they are on paper not electronic code, we've had them a while. Here's a piccie of one.
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Joker62

ADC
Book Reviewer
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You do understand what promissory notes are don't you? They're exactly the same except they are on paper not electronic code, we've had them a while. Here's a piccie of one.
View attachment 552374

Well thank you for clearing that up.
Promissory notes generally have something tangible to support them; gold, goods, land etc.
AIUI Bitcoins rely on people agreeing to accept them(?)
A bit Emperor's new clothes?
 
 
Well thank you for clearing that up.
Promissory notes generally have something tangible to support them; gold, goods, land etc.
AIUI Bitcoins rely on people agreeing to accept them(?)
A bit Emperor's new clothes?
We stopped backing fiat currency with gold quite some time ago. the only thing that makes the numbers in your bank account worth anything is that people agree that it's worth something.

Nothing more.

At least with crypto currency a considerably difficult and expensive to solve maths problem had to be solved to create it.
 
We stopped backing fiat currency with gold quite some time ago. the only thing that makes the numbers in your bank account worth anything is that people agree that it's worth something.

Nothing more.

At least with crypto currency a considerably difficult and expensive to solve maths problem had to be solved to create it.

Thank you.
 

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