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> You know, the “currency” problems and not the “crypto” problems. You seem to be looking for fiat currency, that already exists. The point of cryptocurrency
by rmtech 7y ago
> You know, the “currency” problems and not the “crypto” problems.
You seem to be looking for fiat currency, that already exists.
The point of cryptocurrency is that not everyone wants fiat, some people place more of a priority on certain things and less on certain other things.
- hannasanarion 7y agoI don't think you know what the word "fiat" means. Crypto is fiat currency. It's backed by nothing but wasted electricity and a lucky guess. You can't trade it in for anything of value.
- rmtech 7y agoI do know what fiat means, and my meaning in this context is government-issued fiat such as dollars, pounds, euros, etc, though I think that was pretty clear to everyone else!
- hanniabu 7y agoGold is backed by nothing but scarcity, high energy costs to mine it, and utility. That's no different than ethereum.
- arcticbull 7y agoExcept the scarcity of digital assets is all pretend, since you can just fork Ethereum and make your own. You can't fork gold.