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But unless it is globally everywhere, which it won’t. it will eventually fail. If you study the history of money, which I have, basically eventually the “better
by dsyrk 5y ago
But unless it is globally everywhere, which it won’t. it will eventually fail. If you study the history of money, which I have, basically eventually the “better” money wins. This is the case for the last 5000+ years of human history across many civilizations. What we have is the emergency of “better” money. Fiat has huge advantages if a nation needs to wage war, among many other features, but those features have lost utility over what new cryptocurrency can offer. Governments will obviously fight back soon, but I believe will lose completely in the long run.
- WJW 5y agoPerhaps, but "eventually in the long run" does not imply anything about Turkey succeeding or failing with this particular ban. The long run might be several centuries, in which a lot of things could happen that would make any of the current cryptocurrencies completely irrelevant.
- xwolfi 5y agoProbably but it's rare in history people are so crazy about a slower, more expensive, less fluid, more static currency and call it progress... That your savings' purchase power depends on Chinese electricity plant operating hours doesn't feel weird to you ? I prefer when it evolves slowly with the national debt :D