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RE: The Crypto-peso: is this one part of the cryptocurrency cure for failed economies?
My question remains, is there a way the currency derives it's value? meaning how does money enter the Peso, it would make sense if there was some kind of charity store to help give the token a strong backing...
These are good questions. I understand what your saying, what makes the Crypto-Peso worth more then the currency called the “Bolivar”?
Is it it’s value in EOS coin on the EOS Token market?
Or its value in dollars through its value in a EOS coins?
Or does it have intrinsic value given it by the marketplace?
I think people give things value to some extent as Bitcoin isn’t backed by anything, but people give it or decide its value in the open market based on how good of a store of wealth it is. Although that construct seems circular in its reasoning, many things in life are circles which feed each other to preserve the circle.
I need to study this crypto economy more to understand it completely.
Yes you understood, thank you for the insightful response, the bitcoin analogy has clarified my doubts. I think you got it quite perfectly, funny thing is I know this, I just somehow missed applying the same thought to the Crypto-peso. What do you think of the Stable coin China is rumoured to be about launching?