Senator Mike Rounds

@SenatorRounds ↗

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Last Checked Jan. 19, 2022

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Thu May 27 19:51:02 +0000 2021

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Senator Mike Rounds @SenatorRounds

Some history: in the last century governments have moved away from commodity currencies (such as gold) to fiat currencies (such as Federal Reserve notes) cementing the idea that money can have value just because people agree it does. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

Software developments, however, mean that they don’t need to bother with masks and voice modulators. They can issue a ransom and request payment with a cryptocurrency (CC) (like bitcoin) rather than exchange a briefcase full of cash. — PolitiTweet.org

Posted May 27, 2021

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Senator Mike Rounds @SenatorRounds

Some people decided that, if the commodity backing a currency doesn’t matter, then why should money need to be a physical object and why should you need a government (or bank) to back money? From there, some programmers started developing cryptocurrencies (CCs). — PolitiTweet.org

Posted May 27, 2021