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not sure I understand where that came from.. The 1970's were a far different time from today but basic household economics still were prevalent. I know of nobody who did what you just said.. Housing was a whole lot cheaper than today's over priced and inflated housing prices..
Mortgage rates were cheap also. My parents for example bought a brand new two story brick colonial in a nice upscale neighborhood for 22,000 . It had a master suite, three other good sized bedrooms, 3 full baths, a full basement and attached garage and was BRICK...
My father had recently been promoted at General Electric Aircraft group as business analysis manager and he snapped this thing up in a heart beat.
What did we live in before?
A Sears and Roebuck 4 room house with full bath and basement.. So not sure where that description came from.. We didn;t have excess money back then because nobody was paid at the rates they were say in the 90's.
Ribits comment reflects the same thing I think. What was actually backing bitcoin to actually support its value??
It wasn;t the Gld standard, and it wasn;t the full faith and credit of the US Government..
There is NOTHING tangible backing the valuation of Bitcoin.. Just hype and speculation.. That's it..
THAT is what Ribit is saying.. BTW
they did have BANKS and Savings & Loans back in 1970. Some credit unions also..
I enjoyed the early seventies better than the era we are in.. Skip the war part.. But I liked the time period we lived in ...
COuld be just me..
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