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Why can't the reserve currency be a crypto one? One that has a very clean genisis and is not controlled by any single entity.
by sschueller 6y ago
Why can't the reserve currency be a crypto one? One that has a very clean genisis and is not controlled by any single entity.
- thephyber 6y agoWhat military will go to war to maintain stability of this non-existant mythical cryptocurrency that you just created? Reserve currencies are not just a currency that has a large volume and plentiful liquidity (so the value doesn't swing significantly when demand changes). They are backed by trusted and stable institutions. In the USA, that includes the banking system, the legal system, the political system, and even the military.