Nixon shock day: Difference between revisions
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Latest revision as of 09:41, 22 May 2024
On August 15 1971 US President Nixon announced the "temporary" suspension of USD gold covertibility. This transformed the US Dollar into a pure fiat currency with no ties to any physical element and no limit to its creation.
On August 15th bitcoiners remember the importance of limits to money creation. We remember the 21 million coin limit. We celebrate Bitcoin as a stable and measurable unit of account.
- See also: Bitcoin holidays