WHAT are cryptocurrencies BACKED by?



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took wie er in 12 us if you were looking to rise denk hoe yoga nodig some of the central banks and some of these comments of nooit will increase the money the way the show's zo in vloeken step forward msc hoe heet dat power en wee van de centrale toestemming centralized app manier elektronische toorn en woede crashes backlight dus een cliënt icann c is backed by four weeks lasten picasso van central foliekas hoe drastisch kan mijn hobby's last history and can say the singer ruzies tussen dan have enough history and in 2001 2009 met serieus chauffeur grange sexy back by my dues kwast in krip locaties en apps charging port is de catalogi het de maag eerste science de technologie behind it and this is what is absoluut bekkink locaties en dus wordt mix het zo hard weg liep voor in time basis of people de start schorsing voor dockers is dus iets zak en nieuw concept it sucks en ik doe dit voor many is compleet elly en ik thumping gamer duster and this is my annex i also doing this voor tedx 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serieus kan ik niet de comments other people wordt back in action iets zo een type a smooth d doe in mijn humor en discotheken systeem wordt de kans is backed by a few kan het bekken naast in first for this cold war wat er vier keuzes back by and then my strong gebouwd zou crypto currency sobek ipod wi-fi and a half weeks play dat is onze minst locaties aan very great house unit of account and very great as a means to store by them very great in transferfolie en december wordt mix cold in via croce sequentie en eens langs manager plastisch tanks wie manage to ik vast crypto currency and that explains hulp de mix en stier en mijn missie anything you tanks om dingen op dit is polonius een ding is absoluut wil god en let me know the comments below hij moet last of us feedback was ik denk weet ik schenk wil ik mix and will grow and we can make more videos geer waarom de won en miljoenen focus on this page door net een ex en het de sametime really wanna be back to the entire crypto community en dan cher bidden of our philosophy share bidden of kan of the busy that we have my reapers wincey crypto currencies kon hij hoopje president en objecten and other than that hey subscribe die jelly toen het morgen uit join now' social media op facebook om poeder aan alle links found below and a great looking forward begin van uw sieraden monopolie mens familie ander douwe app voor aj was voor web app voor android or our guide to work your big green egg in die week dus dat dit moment zal wil je wordt ie homo dat en aan looking for the thing het een expert die op your story giliam

49 thoughts on “WHAT are cryptocurrencies BACKED by?”

  1. The dollar is backed by oil, the petrodollar. 90% of all trade, and 2/3 of all oil travels by sea, and the US Navy dominates the seas. The US Navy is the toll collector, and the toll is the world's acceptance of the petrodollar

  2. It is the scarcity which creates demand for gold, and in turn makes gold valuable and a precious metal. Not people's trust in it.

  3. Its messed up that when the government switched to a faith backed currency they kept the gold. It should be put it some use. Instead its just sitting in vaults. I would say redistribute it among the people but how and what would be fair.

  4. So, just like gold is backed by a countries fiat currency; are backed up by NOTHING ! Crypto is just as worthless.

  5. gold is valuable because it is rare like anything else that is rare. gold was easy to coin and is not perishable. gold can also be used for many things including the sophisticated beautiful art painting on stain glass for example. because it is rare it made a good currency to keep governments in check. until central bankers got involved it worked very well. central bankers are working on crypto or may have been in it from the beginning to get their wet dream of one world currency. who knows with them evil bastards.

  6. Is backed by Energy. If energy goes off, internet would go off so cryptocurrencies will too. Future wars will be based on Energy harvesting and protection

  7. I don't fully agree with your Gold analogy. You're right that Gold in part, is largely based on 'trust in its history', however, it is also based on it's rarity and productive properties.
    You never mentioned that gold is a limited resource and is a very stable with tons of uses, you only need to google it to find out how much benefits it has; super conductivity, nonreactive, super reflective to name a few. If gold wasn't so rare/expensive, I would assure you, more items will be made of gold or alloys consisting of gold.
    With that said, until we can artificially produce gold, other currencies won't be in the same league as precious metals of similar commodities.
    Would like to hear the opinions of other people.

  8. Ten X is backed by Julian, a super CEO who wants to deliver value to Ten X holders in the future. I am holding TenX because I trust your ability to generate cash flow for TenX and remain relevant for the next 20 years and the real use cases for TenX. At one point of time it will not be long, you need to give ownership in TenX token holders. If this does not happen, there will be another smart people who do the same…then it will be too late for Tenx In case Tenx needs to be relevant for next 20 years, give ownership today and the go to Visa or Master of Crypto spending. Thank you.

  9. History and number of users, which current cryptocurrency doesnt have yet. And that makes it perfect time to invest. My wife thinks i am crazy putting money into bitcoin. She thinks i am throwing the money away.

  10. We often make mistakes when we see everything simple. If everything is simple everybody woul be scientist.
    Men trust in things that are not manipulative within short amount of times.
    Forexample Julian does not trust in gambling and do not invest everything in a double dice which may be wiped out in seconds but into a work, which may have some risks but he will find it out in years not in seconds. Even the science/math or cryptography are backing crytocurrencies coins could be gone in seconds.
    In the long run asset backed cryptocurrencies will stay and will resemble gold of today or cows in farms.the risks are spread on longer time.
    Other coins will behave like fiat money of today against work of farmer 😂.
    People of cassino's will go to play with coins or binaries but trust oriented people will continue to plant orchards or simply asset backed cryptocurrencies.

  11. The philosophical question "what is value?".

    Value, much like beauty, is in the eye of the beholder.

    History is full of stories of entrepreneurial travellers taking advantage of uneducated locals in order to enact profitable trades. I remember a story of a group of travellers who would venture to islands with items of little value to exchange for some of the finest pearls known to man at that time. The travellers would exchange harmonicas, mirrors, and other common items in Western culture with inhabitants of the islands who had used local knowledge to obtain the desired pearls.

    In hearing this story, I think I was expected to feel sorry for the natives who had unknowingly given away something of great value for something worth very little. But when I took a step back I quickly realised who was getting the better of the deal.

    The European travellers had sailed great distances and at great risk, bringing useful tools and items capable of creating their own beauty for the natives. They took all this risk and gave away actual items of value for a few shiny rocks.

    History ridicules the value lost by "primitive cultures" in these historical trades. I don't.

    I hope you enjoyed my Fishlosophy on what is a very interesting question posed by Julian… "What is value?"

    Love Fish.

  12. Julian, cryptography does not necessarily mean that cryptocurrencies are backed by something. Cryptography is the technology enabler not the provider of value. Look to the history of money. Notes appeared to represent a holding of a valuable asset like gold or land. These notes could be traded and became money. What makes a cryptocurrency valuable are the assets that its blockchain are attached to. Otherwise it is just fiat. Am I missing something?

  13. Please can you please talk about. The card that people order in August? Iam outside Europe I live in Brazil can you give some estimate date for shipping thanks

  14. Bitcoin = 21 million …… VS ….. Fiat Currency = UNLIMITED 🙂

    The people who bought bitcoin know what real MONEY is…. while other's call it a 'fraud' 'ponzi' ..they rather work a hard 40 hours a week to earn their paper trash to try and make a living! – while the central bank cartels print money in their sleep … wake up people its time to learn what real money should be – Portable , Durable , Divisible , Recognizable but most of ALL … has to be SCARCE!!!!!! – buy bitcoin or become a stats!!! TENX to the moon!!!! Keep up the work Julian!

  15. Awesome discussion Julian! I really enjoyed listening to your view on crypto vs. gold and old money. Most people here in the USA still think the US dollar is backed by gold. They don't realize, that we've been off the gold standard since the Nixon administration. I have faith in cryptos over old money and gold. It's not just for a private club of central bankers. It;'s for all of us!

  16. When the governments shut them down all 1184 crypto currencies and Will use the block chain technology to start their own

  17. Even if the price increases on the long term it doesn't mean it's a good store of value. One key component for store of value is volatility. Since it's such a thinly traded market, cryptocurrencies cannot be considered (for the moment being) a good store of value, and therefore, it cannot be considered money.

  18. I agree with decentralization of the financial system, but how do you answer some of the questions being thrown around like:
    1) How to prevent money launderers and terrorism fundings from happening with the use of cryptocurrency?
    2) What should we do with all the people in affected sectors who will become jobless?

  19. Love your videos! But one thing though, TenX is a crypto card right? Isnt that an old way of paying for stuff? Why not do it with the cell phone?

  20. Your videos are so much better in english, … beyond the great content, perfect to improve my english skills. m/

  21. Brother i am from India Yesterday I tried to create Tenx account but the country code not available right now what I will do??

  22. Hi, can you explain why Tenx continues to drop and is now lower than $2. This steady drop that has been ongoing for weeks shows the coin is dead. Is there justification to keep such a coin and do you have solid reasons why it will shoot up again?

  23. its not the maths its the fact that it is decentralised, i often think of cryptos are democratic money, the value of a bitcoin is based on supply and demand and the fact that it is not centrally controlled solidifies that value it will be very difficult for anyone to manipulate a cryptocurrency unless they invest heavily in it ….. so, the value lies A) in the fact that it has all the functions of fiat money and B) it is not centrally controlled, in effect, the people's money

  24. Clear and concise. 2 questions: Is high volatility an issue for cryptocurencies? And what are advantages in paying in crypto instead of fiat?

  25. Fiat monies are backed by the USD, which is backed by gold (until 1971). Gold is backed by its rarity, beauty, history and functionality (i.e. God's money). Crypto currency is backed by the world wide community, which is bound to the complicated mathematical algorithms and formula.

  26. I disagree. If something needs to be backed by something else, then we are already in trouble. And, no, gold is not backed by anything. It is not something that needs backing. It's extremely useful for its properties. To say it's backed by history is really just circular reasoning and does nothing to actually explain how that came to be.

  27. Julien I love your business and I love how you put yourself out there and speak on YouTube. This is very important. Also when will you be making the wallet application available in the US on iOS?

  28. I believe money is a social contract which is adhered to by a group of people. It could take many forms – it doesn't matter which, so long as it works and allows a store of value, a medium of exchange, and convenience and fungibility and so on – all the standard properties we require of money. So crypto is now as much money as any other form of money is – it satisfies all the requirements. Sure criminals use it – but they use all the other forms of money too. Sure it all seems mind-boggling to most people – but so did the Internet not that long ago – and so did having a powerful globally-connected computer system in your shirt pocket, as we all do now. This social contract involves important institutions like major banks, governments, central banks and the various monetary authorities, and it involves the populous as a whole to accept it. But this social contract has recently started to break down – that authority has been misused – and our present monetary system is no longer fully functional – banks are hiding their insolvency, debts will not be repaid, pension funds will go missing, shares will plummet, there may be hyper-inflation, food will disappear from the shelves, industries and businesses will collapse. Yes, it is time for a new monetary system, a new social contract – it is here – this is what crypto is. It has been planned. And it is one fantastic solution!

    Christine Lagarde
    https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency/
    Mario Draghi
    https://www.coindesk.com/mario-draghi-european-central-bank-has-no-power-to-regulate-bitcoin/
    Mike Novogratz
    https://www.youtube.com/watch?v=DozrRY2NENU

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