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There's a lot of crypto shills that want to scare people into thinking fiat will inevitably fail, so people buy their imaginary currency.

matheusmoreira 4y ago
The "shills" are not wrong. Every single currency that ever existed went to zero. The USD will be no exception. Honestly, BTC will be no exception either.
- dragonwriter 4y ago
  > Every single currency that ever existed went to zero False, and you give two examples that disprove the claim: > The USD will be no exception. Honestly, BTC will be no exception either. See, that’s two that have not gone to zero (there ate lots more), but which you merely conjecture will.
  - lowkey 4y ago
    The US dollar has lost 99% of its purchasing power since the creation of the Federal Reserve. The minimum wage in the US in 1964 was $1.25/hour. Notably those five quarters were 90% silver worth about $20 US today. The British Pound Sterling originally referred to £1 being exchangeable for 1 pound of sterling silver or 1/270th of it’s original value. It’s technically true that they haven’t gone to literally zero, but I would hazard to say it is close enough.
- Dylan16807 4y ago
  "Everything fails eventually" isn't what the "shills" are talking about.
carlmr 4y ago
>so people buy their imaginary currency. While I think you're correct regarding the crypto bros, every fiat currency is imaginary.
- prottog 4y ago
  > every fiat currency is imaginary. Well, the USD is backed by the "full faith and credit of the United States government" which, however you may feel about it, isn't imaginary. Each dollar is a claim to a piece of output of the world's largest economy with the strongest military.
- giantrobot 4y ago
  I can pay my non-imaginary taxes with dollars. All my other bills also helpfully accept dollars. This gives dollars a useful non-imaginary quality crypto does not have.
  - carlmr 4y ago
    It's still imaginary. It's belief-based. Just living in the imaginary world of a lot more people than crypto.
    - lamontcg 4y ago
      You could in fact try to opt-out of participating in the US economy even if you live here. That would be very difficult though. Generally at some point a person wants to get some goods and services from their neighbors and barter only goes so far. The fact that you are in a society with 330M other people who all use the same "imaginary" currency makes it incredibly sticky.
      - carlmr 4y ago
        >The fact that you are in a society with 330M other people who all use the same "imaginary" currency makes it incredibly sticky. Exactly what I said. It's imaginary, just that it's a collective imagination.
        lamontcg 4y ago
        You can believe that phone bills are a purely imaginary human construct that has no physical meaning and your phone will still stop working when you stop paying them. At some point these things we conjure up out of our collective imagination are every bit as real as the ground hitting you if you jump off a building.

matheusmoreira 4y ago

The "shills" are not wrong. Every single currency that ever existed went to zero. The USD will be no exception. Honestly, BTC will be no exception either.

dragonwriter 4y ago
> Every single currency that ever existed went to zero False, and you give two examples that disprove the claim: > The USD will be no exception. Honestly, BTC will be no exception either. See, that’s two that have not gone to zero (there ate lots more), but which you merely conjecture will.
- lowkey 4y ago
  The US dollar has lost 99% of its purchasing power since the creation of the Federal Reserve. The minimum wage in the US in 1964 was $1.25/hour. Notably those five quarters were 90% silver worth about $20 US today. The British Pound Sterling originally referred to £1 being exchangeable for 1 pound of sterling silver or 1/270th of it’s original value. It’s technically true that they haven’t gone to literally zero, but I would hazard to say it is close enough.
Dylan16807 4y ago
"Everything fails eventually" isn't what the "shills" are talking about.

carlmr 4y ago

>so people buy their imaginary currency. While I think you're correct regarding the crypto bros, every fiat currency is imaginary.

prottog 4y ago
> every fiat currency is imaginary. Well, the USD is backed by the "full faith and credit of the United States government" which, however you may feel about it, isn't imaginary. Each dollar is a claim to a piece of output of the world's largest economy with the strongest military.
giantrobot 4y ago
I can pay my non-imaginary taxes with dollars. All my other bills also helpfully accept dollars. This gives dollars a useful non-imaginary quality crypto does not have.
- carlmr 4y ago
  It's still imaginary. It's belief-based. Just living in the imaginary world of a lot more people than crypto.
  - lamontcg 4y ago
    You could in fact try to opt-out of participating in the US economy even if you live here. That would be very difficult though. Generally at some point a person wants to get some goods and services from their neighbors and barter only goes so far. The fact that you are in a society with 330M other people who all use the same "imaginary" currency makes it incredibly sticky.
    - carlmr 4y ago
      >The fact that you are in a society with 330M other people who all use the same "imaginary" currency makes it incredibly sticky. Exactly what I said. It's imaginary, just that it's a collective imagination.
      - lamontcg 4y ago
        You can believe that phone bills are a purely imaginary human construct that has no physical meaning and your phone will still stop working when you stop paying them. At some point these things we conjure up out of our collective imagination are every bit as real as the ground hitting you if you jump off a building.