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> But someone complained that they didn't like having something that wasn't tied to USD. No, you're misrepresenting long_time_gone's point. EUR, for example, i
by adwn 5y ago
> But someone complained that they didn't like having something that wasn't tied to USD.
No, you're misrepresenting long_time_gone's point. EUR, for example, is very stable without being tied to USD, and EUR/USD will almost never fluctuate by 10% within a single day. Fiat currencies tend to be very stable even when not tied to USD.
Non-tied cryptocurrencies are extremely volatile to pretty much all fiat currencies (and to most other non-tied cryptocurrencies), while most fiat currencies are comparatively stable to most other fiat currencies, without being tied to them.
- lui8906 5y agoCrypto offers stable coins (USD, EUR, KRC etc.) and non stable, volatile assets (BTC, ETH, SOL). The original poster complained about: A) Crypto being too volatile B) Crypto recreating existing finance Which seems to be a contradiction.
- asimpletune 5y agoOr it could not be volatile and actually create something original? I think the original complaint was it's volatile, to which the solution was "well use this one tied to the dollar"... well what about the ones that aren't volatile and aren't tied to the dollar? (They don't exist, which was the whole point)
- long_time_gone 5y ago>Which seems to be a contradiction. The point was that each individual criticism of crypto (speed, instability, energy efficiency) brings a new solution which seemingly recreates an existing financial function or institution. This is the logical thing to do as it increases trust in crypto and speeds adoption. However, in the end, we have a crypto economy stabilized and supported by the exact institutions it was supposed to displace.