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I hate to break it to you but most dollars are already digital. Also, the problem with the dollar is noy the dollar itself but how it is managed. Most people do
by x86x87 4y ago
I hate to break it to you but most dollars are already digital. Also, the problem with the dollar is noy the dollar itself but how it is managed. Most people don't get this but money is literally made up, printed out of thin air. Irresponsible central banks and policies made to serve the 1% mean that we are all f'ed in the long term.
Nobody talks about the unbanked that now have a way to transacy, about economies where the whole currency collapsed and bitcoin provides a lifeline, about businesses in the 3rd world that now are on the map, about how visa and mastercard call literally wipe your business out of existence, about businesses - like sex work - that live on the fringes of the financial world. It's all abstract here on our high horses
- doubleunplussed 4y agoGood luck actually using a currency that does not have its quantity controlled by a central bank 'printing it out of thin air'. This is a feature, not a bug.
- x86x87 4y agoPeople are using it. Yes, we did a wonderful job "controlling" the quantity. 10% inflation is transitory /s
- doubleunplussed 4y agoThis but unironically. By the standards of the wild swings in CPI that we would have if denominated in any non-stablecoin cryptocurrency, the US's current inflation is brief and insignificant.
- simondotau 4y agoYes, when commerce comes into conflict with legislated morality, people will seek workarounds and accept inferior alternatives. I’m not sure why you think that’s an argument in favour of crypto. Unless perhaps you think that the solution to bad government is to ignore it and hope it goes away?
- x86x87 4y agoLegislated morality. Hah! Better hope that nothing you like or enjoy gets banned.
- simondotau 4y agoAnd crypto solves that how?
- x86x87 4y agoI can give you crypto and you can take crypto without any intermediary telling us we're not allowed to transact.
- simondotau 4y agoSo your argument is that the current system of financial transactions doesn't work for 100% of people 100% of the time. That is unquestionably true and not something I would ever dispute. It's true of every single system of transactions ever imagined, including crypto. A distributed intermediary doesn't mean it's impossible for your transactions to be denied. Your government can still make certain transactions illegal, regardless how they are executed. And if they catch you, they can put you in jail and deny you operational access to any crypto wallet.