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If you are comparing cryptocurrency exchanges with the real world transactions, stuff like this could have happened quite often in the old times. There is the s
by a1371 9y ago
If you are comparing cryptocurrency exchanges with the real world transactions, stuff like this could have happened quite often in the old times. There is the story of the man working cast away for years with little connection with the rest of the world. After he comes back to a town he finds out that the king has changed, so all the notes and coins he has accepted as salary over the years are useless.
In reality, our banking system is much more chaotic than what the end-user sees it because central authorities are keeping the whole system together. and their authority is just what all of us believe in. Now, some people, for better or worse, started believing in something new.
- samat 9y agoA little remark - those central authorities have men with guns to enforce their authority (given that governments are backing centralized system as for now)
- ar0 9y agoAlthough it's hard to make people believe in the value of money they think is worthless -- even with guns. Otherwise we wouldn't have had this many hyper-inflations throughout history. (Nevertheless many governments do not accept this fact and try -- and fail -- again and again.)