> For one, all currency is based on faith. But that rings like nonsense to me. (No offense intended.) A .gov is, at a basic level, the warrantor of property r

> For one, all currency is based on faith. But that rings like nonsense to me. (No offense intended.) A .gov is, at a basic level, the warrantor of property rights. It can confiscate at will. And it did so in the US itself, for all practical intents and of all places, when households were asked to hand over their gold holdings (during the Great Depression if memory serves?). At any rate this ability of .gov to tax and confiscate wealth on demand to protect a currency (or for that matter, its ability to limit capital inflows and outflows like Iceland did in the aftermath of the 2007 crisis) is a much stronger guarantee than any crypto currency can offer. Or maybe I'm entirely out something for assuming as much?