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Nobody does, but it’s a possibility, and we’re hoping that self-sovereign money makes for a more peaceful transition in those places. If it’s total chaos, the

by jl2718 5y ago

Nobody does, but it’s a possibility, and we’re hoping that self-sovereign money makes for a more peaceful transition in those places. If it’s total chaos, the criminals will have total control. We have seen this many times. To see why people buy it, understand their fear of what might happen to them if they don’t.

smt88 5y ago
> To see why people buy it, understand their fear of what might happen to them if they don’t. Yes, I totally understand it. My opposition to crypto speculation is as follows: 1) Investments can be a self-fulfilling prophecy if extremely powerful/wealthy people are involved. If you bet on an outcome and also have the power to create it, can we really trust you not to do that? See also: Peter Thiel buying property in NZ to prepare for societal collapse, even as he worked for the previous presidential administration. 2) This one is just personal to me -- if crypto becomes an important alternative to USD fiat, the world has likely collapsed and I'll probably either be dead or ready to die. It's hard to overstate the consequences of the US collapsing, considering the enormous amount of military power that our country has.
- BackBlast 5y ago
  > 2) This one is just personal to me -- if crypto becomes an important alternative to USD fiat, the world has likely collapsed and I'll probably either be dead or ready to die. This is pretty fatalistic. Life goes on, even through war and grief. Just because you don't like the contemplations doesn't make them unrealistic or un-navigable. Major power transitions are historically accompanied by world war, in such a war the electrical grid will be one of the first casualties. You can't use Crypto without a functional power grid. IMHO, Cryptocurrency isn't a good fit for this scenario. War is bad for cryptocurrency. > It's hard to overstate the consequences of the US collapsing, considering the enormous amount of military power that our country has. War has ever been unthinkable, yet it is historically common. The US military needs an incredible amount of high tech supplies and upkeep to sustain, it would not survive as-is in a significant downturn.
  - smt88 5y ago
    You're basically denying that the future will be unlike the past. I'm sure people had a much rosier view of war before WWI, too. We've never seen an all-out war in the nuclear era.

by jl2718 5y ago

smt88 5y ago

> To see why people buy it, understand their fear of what might happen to them if they don’t. Yes, I totally understand it. My opposition to crypto speculation is as follows: 1) Investments can be a self-fulfilling prophecy if extremely powerful/wealthy people are involved. If you bet on an outcome and also have the power to create it, can we really trust you not to do that? See also: Peter Thiel buying property in NZ to prepare for societal collapse, even as he worked for the previous presidential administration. 2) This one is just personal to me -- if crypto becomes an important alternative to USD fiat, the world has likely collapsed and I'll probably either be dead or ready to die. It's hard to overstate the consequences of the US collapsing, considering the enormous amount of military power that our country has.

BackBlast 5y ago
> 2) This one is just personal to me -- if crypto becomes an important alternative to USD fiat, the world has likely collapsed and I'll probably either be dead or ready to die. This is pretty fatalistic. Life goes on, even through war and grief. Just because you don't like the contemplations doesn't make them unrealistic or un-navigable. Major power transitions are historically accompanied by world war, in such a war the electrical grid will be one of the first casualties. You can't use Crypto without a functional power grid. IMHO, Cryptocurrency isn't a good fit for this scenario. War is bad for cryptocurrency. > It's hard to overstate the consequences of the US collapsing, considering the enormous amount of military power that our country has. War has ever been unthinkable, yet it is historically common. The US military needs an incredible amount of high tech supplies and upkeep to sustain, it would not survive as-is in a significant downturn.
- smt88 5y ago
  You're basically denying that the future will be unlike the past. I'm sure people had a much rosier view of war before WWI, too. We've never seen an all-out war in the nuclear era.