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First of all you're missing how middlemen eat away at your money's value in the legacy banking system. This means that there's a lot more room for corruption wi
by kebman 5y ago
First of all you're missing how middlemen eat away at your money's value in the legacy banking system. This means that there's a lot more room for corruption within the fiat system, because it's top-lead and opaque. And that's also why the banks and political leaders cling to it, because just imagine the unfathomable wealth you can accrue by controlling all that! It's your secret ticket to covert taxation of the people, after all!
Meanwhile Bitcoin can only be influenced through transparent, though anonymized ownership (it isn't totally anonymous per se), and so no one party has monopoly over what should happen next. This is great, because it makes ownership and stewardship of it a matter of national security, since you cannot deny other parties, organizations or even nations from also owning a share of it, and so it also forces diligent cooperation across borders.
The same thing is true for gold, to an extent, but the handling and ownership of gold requires a ton more resources and security to be done safely, and it's also far less transparent.
And I haven't even started to discuss the other great properties of crypto, such as corruption, crime and extortion resistance. If you want to do either of the aforementioned crimes, then cash is simply a much better choice. At the same time it's also regulation resistant.
The fact that it's also inflation-proof is really just a bonus after all that. So all in all I think you should do more research and rethink your position on the many great alternatives to fiat.