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Theoretically crypto will never replace government backed currency if the world economy and politics is stable. Look at Turkey. Venezuela. Argentina. China. No
by bureaucrat 7y ago
Theoretically crypto will never replace government backed currency if the world economy and politics is stable.
Look at Turkey. Venezuela. Argentina. China. North Korea. People are already not trusting government backed currency. I don’t mean to over generalize. I just want to say it’s not just a dream. It’s possible.
- isostatic 7y agoAnd if the world economy and politics isn't stable your USB key isn't going to buy you something to eat any more than your amex. At least cash can be burnt for warmth.
- bureaucrat 7y agoNope, you got it wrong. Look at Venezuela. If people can trust people they can trade. With crypto government trust can be replaced.
- jowsie 7y agoCrypto is only working in places like Venezuela because other states ARE stable (America). If the whole worlds situation goes to shit then it's just as worthless as fiat.