Re: I'm Satoshi, We are all Satoshi

Croesus is credited with issuing the first
true gold coins with a standardised purity
for general circulation, the Croeseid (following
on from his father Alyattes who invented
minting with electrum coins). Indeed, the
invention of coinage had passed into Greek
society through Hermodike II. Hermodike II,
the daughter of an Agamemnon of Cyme, claimed
descent from the original Agamemnon who conquered Troy.
https://en.wikipedia.org/wiki/Croesus
The gold standard was abandoned due to its
propensity for volatility, as well as the
constraints it imposed on governments: by
retaining a fixed exchange rate, governments
were hamstrung in engaging in expansionary
policies to, for example, reduce unemployment
during economic recessions.
https://en.wikipedia.org/wiki/Gold_standard
olcott schrieb:

Warren Buffet said it is rat poison squared.
More aptly current digital currency is simply a Ponzi scheme.
Backed by gold or even dollars could fix this.