The ideal currency is one that is trusted and fluctuates relatively little in value with time. It has a guarantee of value or is backed by tangible assets with value which can be exchanged momentarily upon request at any time, during financial disasters or when everything is functioning predictably. Trust or faith in a currency must have these two dominant factors and there should be a confidence that the currency will not be counterfeited or inflated by those in charge of the money supply.

Bitcoin or any electronic currency with a fixed value is an intangible asset and the only tangible asset is the algorithm used, the hardware associated with it, the stored information, and the trusting customers using the service.

Bitcoin is all a function of trust that the controllers of the currency will not fudge the total amount of the currency and keep it as sound or constant in value as possible.

Unfortunately just like for the fixed tangible asset of gold a fixed amount of  bitcoins or gold is subject to demand and hoarding practices and wildly fluctuates in value. The value of bitcoin will never be trusted if it is not backed by redeemable trusted many tangible assets which are global and globally redeemable.

Do you trust electronic currency and those in control of it? If not, then it is not a serious currency to be considering!!!

If you liked this evergreen truth blog then read more of them, about 1200 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to


If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

common_sense (1)

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.