Friday, December 20, 2013

Difference between Bitcoin and US Dollar InfoGraphic

Bitcoin is a peer-to-peer payment network and digital currency with a public transaction log introduced in 2009 by pseudonymous developer "Satoshi Nakamoto"
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Bitcoin is a peer-to-peer payment network and digital currency with a public transaction log introduced in 2009 by pseudonymous developer "Satoshi Nakamoto".

The U.S. dollar is the currency most used in international transactions and is one of the world's most dominant reserve currencies. Several countries use it as their official currency, and in many others it is the de facto currency. It is also used as the sole currency in two British Overseas Territories: The British Virgin Islands and the Turks and Caicos islands.

2 comments:

  1. Hay Spartacus, 1 US dollar costs the same to print as a $ 100 bill. ( It's an assigned value ) Just what exactly is backing the US dollar ? Certainly not gold or silver anymore. What ?

    ReplyDelete
    Replies
    1. You are correct, there really isn't anything backing the dollar except the threat of having your country invaded or economically destroyed by the US. Some might argue that the dollar is based on oil, hence the phrase "PetroDollar". Just looked what happened to Iraq and Libya after they threatened to sell oil in euros instead. Not sure if I agree I 100% on the premise but here is a good article from the Pirate Party regarding that:

      http://falkvinge.net/2012/10/06/the-us-invaded-iraq-because-it-wouldnt-have-survived-otherwise/

      Delete

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