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The world has apparently gone full crazy, as we're now back to where we started, with the (rather big) difference that we've replaced sovereign-backed currencie

• programmarchy 4y ago
  ...something other than a military, which is a step forward.
  • notahacker 4y ago
    Except of course, that most central banks function perfectly adequately despite the nation in question having very limited military power, and it isn't as if Bitcoin mining operations don't depend on there being enough use of force behind the rule of law for property to still be enforceable.
• throwaway4aday 4y ago
  I don't think it's irrational to disagree with your personal beliefs about monetary systems. There's evidence both for modern practices being beneficial as well as detrimental so I'd reserve judgement until it plays out. Besides that, what's wrong with a private entity issuing its own scrip? It's how our current system of currency got its start with private banks issuing promissory notes which were eventually adopted by the state. You probably personally hold quite a lot of it in the form of debt or reward programs. This goes a little further in that it is redeemable for an alternate form of currency not backed by a state but that's not really an argument against it, historically people have used all kinds of alternate currencies. It really just comes down to what two individuals agree is an appropriate medium of exchange whether it's bitcoin, dollars or cigarettes.
  • Agamus 4y ago
    "Besides that, what's wrong with..." Nothing 'wrong' with it, per se. But the whole concept reads like a bad Saturday Night Live skit.
• fleddr 4y ago
  Where we started, cash, was infinitely better.