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So I am thinking about how many crypto fans suggest fiat money and banks are a thing of the past. I don’t think fiat money or banks can go away unless all thei
by 3a2d29 4y ago
So I am thinking about how many crypto fans suggest fiat money and banks are a thing of the past.
I don’t think fiat money or banks can go away unless all their functionality can be replaced by crypto and do at least as well.
With finances, it’s more about preventing the bad over getting the good. As long as crypto introduces a big problem, there’s no way it becomes the primary financial tool.
In fairness, I am making some assumptions here, so maybe my view of finance is very wrong. I welcome any alternative opinions.
- junofan 4y agoIf you look at the history of finance, all it takes is some better notion of credit. If I can get a better deal using one system over another, that’s what I’ll do. I don’t care how many millions of people are employed offering thousands of niche services by the system I don’t choose.
- 3a2d29 4y agoHasn’t the current system of banks and paper currency basically been the financial system of chose since the 1700s? I see additions to financial systems, not total replacements. Crypto is trying to replace banks and modern finance, correct?