Month: December 2017

Odd Thoughts On Cryptocurrencies

First, a photo – always start with a photo. I put some of this on Facebook in comments on cryptocurrencies. You’ve probably heard about BitCoin and the Blockchain in the news. Is it a mirage, a bubble, a new decentralised kind of wealth? Is it backed by anything? The following comment is on an article I just read – (link at the end) “I think the point here is not what is backing fiat currency or what is not backing fiat currency. Whether we consider current fiat to be spineless (which it has been since it was not backed by gold since the 70’s) does not matter. What matters is the perception that the value of world currencies is mostly due to the value of their stock market which is (theoretically) meant to represent the productivity of a given country. Ideally, a strong stock market index, results in a strong currency value – that is the perception (whether that is real or not is a different conversation and I myself believe it is actually all …