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except that people can always vote with their wallet against bitcoin, while his currency was unfairly advantaged by becoming tender for paying tax. I dont thin

except that people can always vote with their wallet against bitcoin, while his currency was unfairly advantaged by becoming tender for paying tax. I dont think currency should be democratic, it should be impersonal and outside the whims of any group of people. Gold is like that. Cryptocuyrrencies may reach that stage after they solve all their bugs and their source code becomes fossilized.

xwolfi 5y ago
Gold is not like that. When my country, France, floated the idea to maybe sell our reserves now that it's useless to pay for things people may need, the pressure from Russia and other very large holders was so heavy we dropped it: not worth the amount of enemy we would have made crashing its price. People who advocate for gold... wait for it ... have gold ! It's the same as bitcoin. The best currency is worthless and fleeting and represent work effort today and must be quickly converted back to work. Invest in schools to pay for a productive future that can afford your retirement, instead of clutching your precious metal.
- cblconfederate 5y ago
  Good point, gold is like a PoS system nowadays. Still, the ease with which bitcoin can be exchanged makes it a better alternative
deleted 5y ago
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VictorPath 5y ago
> I dont think currency should be democratic, it should be impersonal and outside the whims of any group of people. Gold is like that. If gold (or some other precious metal) is such a fantastic currency for a modern economy to use, why are no modern economies pegging their currencies to gold? Why didn't Nixon keep the dollar convertible to gold?
- cblconfederate 5y ago
  I don't know. And looking at the current state of fiat currencies, they don't know either.
kcatskcolbdi 5y ago
Voting with your wallet has worked in several isolated instances where there is a clear divide and an ability to coordinate large groups of people. Meanwhile it has failed in areas with obfuscation and unclear understanding of complex processes (most of the companies/organizations in the world). Technical understanding of Bitcoin and crypto in general is so limited it certainly falls into the latter category. Nothing which responds to interactions with humans operates outside the whims of any group of people.
- cblconfederate 5y ago
  > technical understanding of Bitcoin and crypto in general is so limited Agreed, this is something to fix. The current crypto bubble is driven by clueless hype > Nothing which responds to interactions with humans operates outside the whims of any group of people. Science does and so do mathematics.
dralley 5y ago
> it should be impersonal and outside the whims of any group of people. Gold is like that. Gold is not like that at all. In the days of gold backed currencies, owners of gold mines had tremendous power to manipulate the market at their own whims.

xwolfi 5y ago

Gold is not like that. When my country, France, floated the idea to maybe sell our reserves now that it's useless to pay for things people may need, the pressure from Russia and other very large holders was so heavy we dropped it: not worth the amount of enemy we would have made crashing its price. People who advocate for gold... wait for it ... have gold ! It's the same as bitcoin. The best currency is worthless and fleeting and represent work effort today and must be quickly converted back to work. Invest in schools to pay for a productive future that can afford your retirement, instead of clutching your precious metal.

cblconfederate 5y ago
Good point, gold is like a PoS system nowadays. Still, the ease with which bitcoin can be exchanged makes it a better alternative

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VictorPath 5y ago

> I dont think currency should be democratic, it should be impersonal and outside the whims of any group of people. Gold is like that. If gold (or some other precious metal) is such a fantastic currency for a modern economy to use, why are no modern economies pegging their currencies to gold? Why didn't Nixon keep the dollar convertible to gold?

cblconfederate 5y ago
I don't know. And looking at the current state of fiat currencies, they don't know either.

kcatskcolbdi 5y ago

Voting with your wallet has worked in several isolated instances where there is a clear divide and an ability to coordinate large groups of people. Meanwhile it has failed in areas with obfuscation and unclear understanding of complex processes (most of the companies/organizations in the world). Technical understanding of Bitcoin and crypto in general is so limited it certainly falls into the latter category. Nothing which responds to interactions with humans operates outside the whims of any group of people.

cblconfederate 5y ago
> technical understanding of Bitcoin and crypto in general is so limited Agreed, this is something to fix. The current crypto bubble is driven by clueless hype > Nothing which responds to interactions with humans operates outside the whims of any group of people. Science does and so do mathematics.

dralley 5y ago

> it should be impersonal and outside the whims of any group of people. Gold is like that. Gold is not like that at all. In the days of gold backed currencies, owners of gold mines had tremendous power to manipulate the market at their own whims.