The gold standard was completely replaced byfiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. In the U.S., for instance, the dollar is fiat money, and in Nigeria, the naira is. ...
The idea behind Bitcoin is to buy low and sell high. That is exactly what happened with Bitcoin. In 2009, the price of each Bitcoin is just $0.10 and come 2013, it costs more than $1100 a piece. If you have 1000 Bitcoins at that time, you could have earned 1.1 Million dolla...
The Gold Pool collapsed in 1968 as member nations were reluctant to cooperate fully in maintaining the market price at the U.S. price of gold. In the following years, both Belgium and the Netherlands cashed in dollars for gold, with Germany and France expressing similar intentions. In ...