Gems can then be exchanged for bitcoin and ultimately sold
for fiat dollars, Peled explained, meaning users are essentially paid for spreading the network:
A malicious user who overpowers a public blockchain network would, in doing so, devalue the currency, so even if they «stole» some coins they would very likely end up with less money in terms
of fiat dollars than they had before.»
Like many personal finance blogs, this does not account for inflation and
the fiat dollar.
I think of the Confederation, where the economic pressure became so great that an extra-constitutional coup took place to create the Constitution, and implicitly,
the fiat Dollar that we live with to this day.
And I suspect jafix does nt understand the relation between the price of gold and the value of
a fiat dollar.
I understand how one purchases crypto currency with
fiat dollars (credit card), but how does one withdraw the crypto currency purchased in fiat dollars when one wants to cash out.??
No, not the leather ones that hold
your fiat dollars, but the digital ones that hold your cryptocurrency.