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I have no problem understanding why people in failed states might want these cryptocurrencies. They're essentially more convenient (but also more volatile) mean
by gspr 5y ago
I have no problem understanding why people in failed states might want these cryptocurrencies. They're essentially more convenient (but also more volatile) means of barter.
But let's face it: most of the hype is in well-functioning democracies. Here, I cannot fathom why anyone would wanna replace fiat currencies with this crap.
- briefcomment 5y agoIn the case of a supply capped crypto, to not get burned by asset inflation.
- disruptalot 5y agoOf all the years in which you could make this argument, this year is probably the worst. In the "well functioning democracy" U.S. You have: - Mistrust in institutions - An insane asset inflation bubble fueled by the biggest fiat printing spree ever Sure, the state hasn't failed. But are you really surprised people want to expose themselves to a new paradigm with different fundamentals for money and finance, this year?
- gspr 5y agoAnd if the US fails, don't you have quite a lot bigger problems than the currency over there? Good luck paying for things with cryptocurrency-of-the-day without electricity. Or without authorities to call if your trading partner pulls a gun on you. But I'm sure the American solution is a diesel generator and an even bigger gun ;-)
- throwaways885 5y agoBecause despite it being very bad for the poor and middle classes, money printing is at an all-time high. Just like how neither US party is anti-war (but claims to be), neither wish to give up QE. The system is rigged for the super rich.