Bitcoin Badger

1. Background In near infinitely vast cosmic scope, human civilization is indeed very young. We as earthlings are indulged in neverending pursuit of material needs while advancing our civilization, but do we have a way to gauge how advenced our civilization is? What is the potential of mankind and how far can we go? In 1964, a Russian astronomer, Kardashev proposed a method of measuring a civilization's level of technological advancement based on the amount of energy they are able to utilize. Futurists and Scientists have since modified the original three types to various versions with different definitions. The most concise one is described below. Type 0 - From primitive hunting lifestyle to partial usage of home planetary energy such as wood or fossil fuel fire, this type is the beginning of a civilization. Population ranged from a few thousands to a few billions, energy consumption is between 10^6 to 10^15 W, with cities scattered around coastal area. Obviously all ...

History of Fiat Currency “Money has been essential part of human history for the last 3,000 years. In isolation it has no worth; whether it's a minted metal coin or a piece of paper with a historic icon on it, the true value of money comes from its use as medium of exchange and measurement of wealth.”---visualcapitalist.com Money in the beginning form of shells has been changed to silver and gold to modern paper form, reflecting the need and development of each financial stage. Paper money was initially backed by gold as people were not confident in face value carried by a piece of paper; thebalance  has put up a comprehensive timeline on development of gold standard. However, the gold standard ended on August 15, 1971. That's when Nixon changed the dollar/gold relationship to $38 per ounce. He no longer allowed the Fed to redeem dollars with gold. That made the gold standard meaningless. The U.S. government repriced gold to $42 per ounce in 1973 and then decoupled the v...