Forget Bitcoin - Digital Currencies Can Only Work With Government Backing

It’s hard to accurately measure how much anything is worth using a medium whose own price fluctuates highly all the time.

In my latest article for the Vulcan Post I explain why decentralized cryptocurrencies are never going to serve as actual “currencies“

You can take gold or silver anywhere in the world and exchange it for money, as there’s always demand for it, but cryptocurrencies are based on nothing. If their value collapses to zero, the only thing you’re going to hold is a digital record you wouldn’t even be able to use as toilet paper.

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