Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: BitCoin wallet stolen
In Response To: Re: BitCoin wallet stolen ()

Ha I guess I have become a curmudgeon.

I guess we could call crinoid stems money like the Indians did. Back in ancient times(1977), Economics 101...professor said money has value because we all agree it does. I never understood the ruckus about paper money needing to be backed up by gold...if oil man Joe says a barrel of his oil is valued at 56 bucks and I have 56 dollars to give for that barrel of oil and also agree that a barrel is worth 56 bucks...a dollar is backed up by 1/56th of a barrel of oil...or 1/10th of a bushel of beans.

We have the commodities market to determine the value of the dollar.

If baker Bob has a non-gay marriage wedding cake and needs a barrel of oil to heat his ovens but Oil man Mat doesn't need a a non-gay marriage wedding cake...baker Bob can sell his non-gay marriage wedding cake to non-gay Garry so he can marry straight Stella...baker bob sells to Garry and takes the crinoid stems to oil man Mat for whatever portion of a barrel of oil a non-gay marriage cake is valued at based on what non-gay Garry thinks a non-gay wedding cake is worth. Said crinoid stems ultimately being worth what they all agreed they were worth.

Where gold figures in the non-gay marriage cake for a portion of a barrel of oil saga comes into play is beyond me.

I probably have that wrong somehow but hey, I'm a curmudgeon of such vintage that I actually know what Indian money is.