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Right, but the alternative has never been a crypto, it's always just a more stable fiat.
by trutannus 5y ago
Right, but the alternative has never been a crypto, it's always just a more stable fiat.
- coralreef 5y ago> the alternative has never been a crypto Cryptos have only existed for ~12 years. > it's always just a more stable fiat. What happens when there are no longer any stable fiats in the world? Do you see whats happening with negative interests rates across the developed world? Debt grows perpetually, the cost of borrowing is zero, and everyone thinks this is normal. Central bank fiat currency is simply an idea that is doomed to fail eventually.
- trutannus 5y agoNow you've moved into speculation at this point.
- coralreef 5y agoSemantically, yes, and you're speculating as well. You're speculating that fiat would remain stable and hold value, that inflation would not run rampant. I'm refuting your speculations of stable fiat with evidence shown in the macroeconomics, and of countries whose currencies have entered hyperinflation.
- trutannus 5y ago> You're speculating that fiat would remain stable and hold value, that inflation would not run rampant. Can you show me where I said that? This is nowhere in my comment, or any comment I've ever written here. You're completely making things up at this point. I said nothing about inflation, value, or stability. All I have said is that nobody is adopting crypto when their currency fails. They're adopting USD, a more stable fiat. Relative to failing states' fiat, the USD is significantly more stable, and more widely accepted. That's simply a fact.
- coralreef 5y ago> Can you show me where I said that? This is nowhere in my comment, or any comment I've ever written here. You're completely making things up at this point. Your statements contain implicit assumptions about fiat, particularly the USD's future. It's stable now, that's why people use them. That's your main point. I'm asking you to project further into the future and take into account economic conditions that cast doubt on the USDs future. If you can do that, then you can understand why people are interested in crypto. Otherwise if you don't have any interesting points to make, you can stop refuting me and let the thread reach conclusion?
- trutannus 5y ago> Your statements contain implicit assumptions about fiat, particularly the USD's future. No, I did not. You've started making stuff up and trying to shoehorn this discussion into a direction which you want it to go. This last reply from you is so far off of my initial point which was very simple. My point is very simple and factual: people use USD not crypto when their banks fail because the USD has greater historic stability. Therefore people use it. I've never said "and it will stay stable" I simply said that it is now, and that's why it is used. > I'm asking you to project further into the future This isn't the point I'm trying to make. You appear to want me to be making different arguments since the ones you are responding to are completely unrelated to mine. I'm not making some pie-in-the-sky claims about what would happen in the future since I'm not an economist, and I suspect that you are not either given how black-and-white some of your ideas are. > Otherwise if you don't have any interesting points to make, you can stop refuting me and let the thread reach conclusion? I'd suggest you review the HN guidelines.