Bitcoin 101 with Linda Hill (WiM114)
The "What is Money?" Show
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Is There a Gold Backing Paper Money?
Every ounce we mine every year is just added to the existing supply of gold in the world. We're increasing the supply by roughly the same, or even a smaller percentage every year. So of the existing value stored in gold, it's only being diluted or inflated by around two % per year no matter what anyone does. I no one knows how to counterfeit gold. H so it was just the ultimate or value in that sense.
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