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Because its still more trustworthy then a currency that is managed under modern monetary theory. As in you can print as much money as you want as long as people

Because its still more trustworthy then a currency that is managed under modern monetary theory. As in you can print as much money as you want as long as people have no store of value to escape into. You can argue about the validity of that argument all day long but the size of the crypto market speaks for itself. At the end of the day, somebody spend energy for its creation which gives it at least some sort of stored value.

daenz 5y ago
Want to make a bet? I can survey 100 random people about the trustworthiness of crypto versus cash and prove you wrong.
- cf141q5325 5y ago
  The market speaks for itself. One works as a store of value, one doesnt.
  - daenz 5y ago
    I think we're debating two different points. My point is about the perception of the trustworthiness of crypto by your average person. Your point seems to be that crypto is a better financial instrument.
    - cf141q5325 5y ago
      It boils down to the same thing. Inflation is nothing more then inflation expectation, as people change their behavior as a result. The fact that fiat is moving towards 10% inflation is a direct result of a reduction in trust in it as a store of value. People expect it to be worth less, and as a result it is. If you look back over any period of time you have a constant erosion of trust in its ability to store value since its inception in the 70s. For cryptos its the opposite. You can make the argument about different market sizes though. But the trend in both directions is clear.
      - dmitriid 5y ago
        > The fact that fiat is moving towards 10% inflation Crypto had value swings far greater than that in the past 6 months alone.
        cf141q5325 5y ago
        But not over time. Fiat has been constantly going down since its inception
        dmitriid 5y ago
        Slow inflation is manageable for an average person (or a company). Wild swings at any given point are not.
- deleted 5y ago
  [deleted]

daenz 5y ago

Want to make a bet? I can survey 100 random people about the trustworthiness of crypto versus cash and prove you wrong.

cf141q5325 5y ago
The market speaks for itself. One works as a store of value, one doesnt.
- daenz 5y ago
  I think we're debating two different points. My point is about the perception of the trustworthiness of crypto by your average person. Your point seems to be that crypto is a better financial instrument.
  - cf141q5325 5y ago
    It boils down to the same thing. Inflation is nothing more then inflation expectation, as people change their behavior as a result. The fact that fiat is moving towards 10% inflation is a direct result of a reduction in trust in it as a store of value. People expect it to be worth less, and as a result it is. If you look back over any period of time you have a constant erosion of trust in its ability to store value since its inception in the 70s. For cryptos its the opposite. You can make the argument about different market sizes though. But the trend in both directions is clear.
    - dmitriid 5y ago
      > The fact that fiat is moving towards 10% inflation Crypto had value swings far greater than that in the past 6 months alone.
      - cf141q5325 5y ago
        But not over time. Fiat has been constantly going down since its inception
        dmitriid 5y ago
        Slow inflation is manageable for an average person (or a company). Wild swings at any given point are not.
deleted 5y ago
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