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You probably live in the first world and had never to worry about inflation or politicians/bureaucrats just straight destroying the fiat currency and your wealt
by Pmop 5y ago
You probably live in the first world and had never to worry about inflation or politicians/bureaucrats just straight destroying the fiat currency and your wealth in the process. That's why crypto sounds so "wasteful" to you. BTW, if we give the government the power to judge what is a waste of energy and what's not, I can assure you life would be 100% more miserable, to everyone.
- ulfw 5y agoThere's actual real fiat currencies for that. The USD, the EUR, the YEN, the CHF... plenty of choices that have been used for decades in the developing world. I'd much rather have my money in a stable-ish fiat currency like those than in some Bitcoin that goes up and down 10% at will or by Elon-tweet. In fact some countries, e.g. Kosovo and Montenegro, in the Balkans, use the euro as a de facto domestic currency since 2002, even though they have no agreements with the EU.
- dmytrish 5y agoCrypto"currencies" are not the only way to store value when an official currency is failing: people who want their savings preserved can get USD, EUR, gold. Crypto *is* volatile and wasteful compared to any of those.
- MillenialMan 5y agoAll of those things can be tracked and confiscated - crypto is a lot harder. It's volatile, but it's significantly more secure against state actors.
- otterley 5y agoYes, and they should be, in order to deter and punish crime.
- ghostwriter 5y agowho defines what a crime is? Isn't it the same government that at some point decides to confiscate your assets? https://en.wikipedia.org/wiki/Kulak https://en.wikipedia.org/wiki/Kulak
- stiltzkin 5y agoIt is actually less harder than FIAT (except Monero), if you want to track spending of corrupt politicians, not fungible cryptocurrencies as BTC are great tools.
- MillenialMan 5y agoYou still need to attach final wallet(s) to the user, but in any case, I assume they would use Monero (or another privacy coin).
- azth 5y agoInflation already affecting USD. All fiat currencies are inherently inflationary. Thanks but no thanks.
- barrenko 5y agoTo paraphrase a relatively popular Twitter account ~ Behind every dollar is an unspoken promise that the US Marines will evacuate you middle of the night anywhere in the world if shit hits the fan. Which has been recently proven to be quite an assumption.