*You can't print/generate money indefinitely* Why not? Our current currencies (w... | Hacker News

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rmc on March 23, 2011 | parent | context | favorite | on: What is Bitcoin? (Video)

You can't print/generate money indefinitely

Why not? Our current currencies (which are a lot more useful than BTC) are not backed by any finite commondity like gold.

getsat on March 23, 2011 [–]

Exactly, they're fiat currencies: http://en.wikipedia.org/wiki/Fiat_money

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