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Natural phenomena amazing as they are aside... The "free market" doesn't exist because the economy is governed by rules established by governments and rules be
by _hao 6y ago
Natural phenomena amazing as they are aside...
The "free market" doesn't exist because the economy is governed by rules established by governments and rules between governments in extension.
Cryptocurrencies right now are a speculative trading tool and store of value for others (very volatile at that), but I think that the cryptocurrencies that will really take off and seep into the mainstream are the government digital currencies currently being worked on (China is set to start testing the digital Yuan soon if not already).
My point is that nothing is ever truly free because nothing is ever by itself in a vacuum. You have to interact with outside forces and follow certain rules - natural or otherwise.
- spking 6y agoThe cryptocurrencies that will really take off (in the long run) will be the ones that are most programmable and win the most developer hearts and minds. Digital nation-state sponsored fiat won't be able to compete with the complexity that is made possible by "finance legos". I think Ethereum and maybe what's coming together at https://www.avalabs.org/ https://www.avalabs.org/ are good examples.
- synctext 6y agoSee "Central Bank Digital Currency" report and details by an actual central bank in the Eurozone[1]. "Cash is no longer king" and this indeed could go mainstream. But it is far far away from self-organisations. Finance (like aviation) is quite a regulated industry. [1] https://www.dnb.nl/en/news/news-and-archive/dnbulletin-2020/dnb388309.jsp https://www.dnb.nl/en/news/news-and-archive/dnbulletin-2020/...
- madhadron 6y agoMore fundamentally, a free market doesn't exist because markets are brought into being by governments. They don't emerge naturally among humans.