I thought this video was interesting because it discusses and issue that many BitCoin skeptics bring-up.
How is it money or anything of value? Who is backing it?
When asked, my answer is essentially what this documentary brings up. Namely that after Nixon suspended the convertibility of the U.S. dollar into gold, fiat currency was given the worth that we’re told it is and that markets determine it to be (via Forex/Currency trading or price-fixing as some governments partake in).[Read more…]