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How many recessions / depressions need to happen before you claim that fiat money doesn't work? If you can exchange crypto for goods and services then works. p
by lesuorac 3y ago
How many recessions / depressions need to happen before you claim that fiat money doesn't work?
If you can exchange crypto for goods and services then works. period; no need to move any goal posts.
- Karunamon 3y agoIt really is that simple. For all its problems, the fact that I can move my money anywhere, without middle men, is the main promise of crypto fulfilled, everything else on top of that is gravy.
- majormajor 3y agoRecessions/depressions seem like more of a potential indictment of capitalism than currency. Crypto would certainly not eliminate those in any scenario. Many fiat currencies pass the "exchange for goods and services" test you propose. Many crypto coins would fail them, depending on how broadly we want acceptance to be.
- JumpCrisscross 3y ago> How many recessions / depressions need to happen before you claim that fiat money doesn't work? This category of claim baffles me. Is the hypothesis there weren't wars or recessions when the world was on the gold standard?