replica designer jewelry wholesale What does it mean that in the introduction of Bitcoin and the traditional electronic currency rely on the endorsement of fiat currency? "

wholesale accessories fashion jewelry Alipay, the number in the bank card, it is not currency itself, but the bookkeeping symbol of RMB.
In the era of gold ten years ago, banknotes rely on gold endorsement, that is, banknotes are not currency, but golden accounting symbols.
The number of Bitcoin is limited and cannot be forged, so there is no need to endorse. At that time, people thought that the dollar was unreliable and easy to overcome, so it was necessary to be a golden account symbol. Now people have become accustomed to the US dollar superb/unreliable, so they are out of gold. But the number of bank cards cannot be separated from the endorsement of the RMB, otherwise this number will grow too fast. "Endema" means credit support: if you have a balance in Alipay, Ma Yun will unconditionally allow you to take out the renminbi without dependent. The total amount of funds in Alipay in Alipay is equivalent to Alipay's total deposits in banks. This strict correspondence is called "endorsement"