Screw Bitcoin...could we start our own currency?Submitted by gizzy on Fri, 04/12/2013 - 20:43
So i'm sitting here thinking...
the main issue with Bitcoin is it has no true worth. It's fiat just like a Federal Reserve Note. The only upside to it is that it's digital & can not be taxed or tracked.
Could we create a currency that like Bitcoin is digital...yet is backed by an actual metal like silver? Let's say you called it AgC. And all of the silver that backs the currency is kept in a warehouse & you could redeem your digital AgC anytime for the actual worth in silver.
Good idea? Worth exploring more?
What do you guys think?