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> I like my fiat and central banks, thank you very much. I do too! But some people don't. And it appears that there are now options for everyone, which seems..
by bhupy 6y ago
> I like my fiat and central banks, thank you very much.
I do too! But some people don't. And it appears that there are now options for everyone, which seems...good?
- grey-area 6y agoEntirely unregulated markets are not good, they are awful, and they can go on for quite a while before blowing up, taking the life savings of lots of ordinary people with them.
- bhupy 6y agoI mean, no disagreements that unregulated markets can turn out disastrously (and hurt ordinary people). But regulated currencies can also turn out disastrously bad (see: Venezuela, Zimbabwe hyperinflation, Nigeria, Argentina). This hurts ordinary people too. There's an Argentinian in this very thread that's chimed in with their personal experience. I won't pretend one approach is strictly superior to the other, nor am I suggesting that one ought to put 100% of their life savings into BTC or US T-bonds, but having options allows the ordinary person to hedge. That's the point. Optionality is good, and because BTC isn't legal tender (nor will it ever be), nobody is forced to use it anyway.
- grey-area 6y agoVery true some jurisdictions are very risky, I’m just sceptical than Bitcoin is a) a viable currency and b) not riddled with fraud.