Ruark_Icefire t1_j2cpnni wrote on December 31, 2022 at 7:07 AM Reply to comment by yawetag12 in Bahamian regulator says it seized $3.5 billion of FTX crypto assets for ‘safekeeping’ by cloud_coder Yeah we don't use a gold standard or even a silver standard anymore but I would argue that fiat currencies are still essentially I.O.U.s. Just now it means that you are owed a certain amount of goods instead of being owed silver or gold. Permalink Parent 1
Ruark_Icefire t1_j2bck18 wrote on December 31, 2022 at 12:12 AM Reply to comment by oh_hai_brian in Bahamian regulator says it seized $3.5 billion of FTX crypto assets for ‘safekeeping’ by cloud_coder Technically speaking all money these days are just I.O.U.s Permalink Parent 5
Ruark_Icefire t1_j2cpnni wrote
Reply to comment by yawetag12 in Bahamian regulator says it seized $3.5 billion of FTX crypto assets for ‘safekeeping’ by cloud_coder
Yeah we don't use a gold standard or even a silver standard anymore but I would argue that fiat currencies are still essentially I.O.U.s. Just now it means that you are owed a certain amount of goods instead of being owed silver or gold.