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> Somalia in the 90's. Or Lebanon right now, which has USD as a competing currency rather than crypto. I tend to agree with this perspective--that all states s
by public_defender 4y ago
> Somalia in the 90's.
Or Lebanon right now, which has USD as a competing currency rather than crypto. I tend to agree with this perspective--that all states should see a private economy as an adversary--but there are a lot of states that can't effectively resist forces like this.
That said, is there really a proven use case where people are using cryptocurrency to buy burritos? I think the private economy meme is out over its skis. I have seen places where you can buy a six dollar latte or a bag of cocaine with Bitcoin, but these are use cases which are heavily predicated on a functional underlying fiat currency.