Genesis Mining, has carried out a survey to find out how much Americans know about their own dollars. Apparently you believe about 30% of the American public that the us dollar still backed by gold….
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The end of the gold standard
The Bretton Woods system ended in 1971, meaning that the us dollar was officially decoupled from gold. As a result, the dollar fiduciary funds. The currency is derived from the value of the trust and confidence that your goods and services can be purchased not to have a child, which are scarce resources.
As you can see below, it is the purchasing power of the dollar since the abandonment of the gold standard was greatly reduced.
Gold and government
However, there is a large group of Americans, who still have the perception that gold is still a guarantee for the value of the us dollar.
Genesis-mining cloud mining services, and they felt it was time for a survey to determine what Americans know about their own currency. The survey consists of 23 questions, and one of the questions was to do with the support of the us dollar. These are the results:
29.3% of the public believes that the us dollar is backed by gold
30,1% say that the government is the guarantor for the value of
At 5.8%, said bonds to
Of 4.1%, said oil
At 23.6% of them said that they didn’t have a clue
7.1 percent skipped the question
The alarming results of
The results are very interesting. The idea that gold to the value of the American dollar sets, and that one-quarter of the respondents say that they have no idea, it is a matter of concern. However, that is 4.1% of Americans believe that the oil is even more dangerous.
A large portion of the public thinks so with the idea that it is a currency, a commodity such as gold is supported. That was a few decades ago.
Fiat-to-bitcoin
We don’t know how to think about money, but the results of the survey can be very useful in order to understand how bitcoin could explain it to someone, here in the Netherlands. If you’re of the mind that can get in the euro and the dollar, fiduciary money, it’s a small effort to move the conversation towards bitcoin is to move on.
The Proof-of-work
The value of bitcoin is, however, something tangible to be covered, namely, the proof-of-work. The time and effort it will take to get bitcoins is to mine a guarantee of a minimum price. In addition, bitcoin is viewed as digital gold, as an alternative to economic instability.
The results of the survey show that not many people are aware of what money really is. That in itself is not necessarily bad, not everyone can do everything there is to know. If you are a flame or spark about bitcoin to begin with. Like so many others, this is an introduction to bitcoin, an introduction to money and the economy.
And hopefully, after enough people have by bitcoin and have studied our monetary system, the survey results differently next time.