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> Who else read PYUSD as "pie-usd" intuiting something like "Python USD"... "pip install pyusd" Honestly? Probably no one, but I like here your head is going;

> Who else read PYUSD as "pie-usd" intuiting something like "Python USD"... "pip install pyusd" Honestly? Probably no one, but I like here your head is going; money as code is something that we in the Bitcoin community have been advocating since it's inception. People need to understand that money has to evolve, and that the current system is as archaic as the massive computing machines that occupied entire warehouses in comparison to where we are in terms of computing power and advancement. If seen from a purely technological lens: fiat is a Luddite's folly. Personally, I think that the stablecoin behind Paypal must be seen in the same lens as Zuckbucks (Libra) but it is shifting the POV that the majority 85% of the population that you can in fact have systems which not only allows for 24/7 transactions (I doubt Thiel-bucks will be seamless given my experience with Paypal mafia) but they also allow for Bitcoin to enter as the leader of the paradigm shift. Honestly, if Thiel has done it as this point--an entrenched fossil in terms of fintech--you HN stragglers need to realize that this is where money is going, whether you like it or not at this point. Web 3.0 and NFT BS always were VC's COVID rug pull, cash grab with cheap money; however, that doesn't mean the underlying tech we've built isn't sound and slowly taking over the financial system (the way some of us in this for 10+ years always wanted it) as Blackrock, who has more assets under management than God, is getting close to it's Bitcoin ETF and the SEC saying anything but Bitcoin is a security etc... With that said, I honestly envision a World with competing non-nation State fiat currencies is now inevitable; Global inflation is now at unpayable levels and will continue to de-value as the Geo-political and environmental situation intensifies, despite our best attempts. What becomes of this is where the real experimental design runs at it's simulation limits, so it will be interesting to see what happens from here.

bbstats 3y ago
I read it that way! :)
bemusedthrow75 3y ago
> If seen from a purely technological lens: fiat is a Luddite's folly. Tech people always write off the Luddites, even after the point at which they start to sound like them. It bears repeating that the Luddites were not indiscriminate wreckers or fools, and their ideas not “folly”. They were not trying to keep people stuck in the dark ages: they were trying to protect highly-skilled jobs. The same is true of the Amish and Mennonites: there is not just the one accommodation to reach with technology. Other accommodations are possible and may be healthier.
3LazTjBv-f 3y ago
And beside some slogans, how exactly will cryptocurrency beat that "archaic" system? As a customer there is exactly 0 benefit for be to use crypto. The single mobile app from my bank, allows me to pay for anything online in few seconds, contact-less credit cards do the same in brick&mortar shops. I am literally afraid that physical cash will die out, cause it isn't convenient enough.
- simple-thoughts 3y ago
  There’s a wide range of products and services that are native to crypto that you don’t have access too without a blockchain wallet. Now you personally might not care about nfts, tokens, exclusive clubs, blockchain games just to list a few, but other people definitely do. Also the parent comment is out to lunch, crypto will likely never replace fiat simply because there’s nothing preventing states from implementing the parts of crypto that succeed.
  - JohnFen 3y ago
    > Now you personally might not care about nfts, tokens, exclusive clubs, blockchain games just to list a few, but other people definitely do. Sure, but those are niche things that most people will never care about. Awesome for the people who are into such things, but not a draw for everyone else.
- pcdoodle 3y ago
  As a customer of USD, there's attrition of purchasing power.
  - Melting_Harps 3y ago
    > As a customer of USD, there's attrition of purchasing power. There is no denying that USD has sticking power, despite it's immense loss in purchase value since it's inception, but relative to all other currencies I guess it has won the attrition battle; though if I'm honest if that were the sole reason you should have been in GBP to remain consistent in your logic. Honestly, this is the best of bad options, but I guess the perspective if taken to it's logical conclusion is that: ultimately might makes right. The Petro-dollar Empire is backed by 'proof of violence' is a commonly held belief amongst (early) Bitcoiners, but because it can be obfuscated by many layers of abstraction the general public is often none-the-wiser: but is none the less true. I'm no longer the idealist I was in my teens or 20s as a (former) environmental-activist and felt people can be swayed by reason and logic alone; I've come to know most will never accept anything that isn't deemed in there own best personal interest, but just look around what we are dealing with in terms of potential nuclear war/contamination or environmental and climate cotastrophe; that is mainly attributed to the 'must grow at all costs' economic model that sustains the fiat system and makes nation-states war for influence of nations and there resources via unpayable loans and debt bondage. We cannot live like this for very long, so what good is a Roth IRA with fat margins if the end result is shorter life expectancy, diminishing quality of Life and the growing issue where you cannot access more things of value in those ever inflated units of currency as supply chains collapse under the strain of the aforementioned? I think this above all else is what needs to be understood, and if we really want to live in such a World anymore?

bbstats 3y ago

I read it that way! :)

bemusedthrow75 3y ago

> If seen from a purely technological lens: fiat is a Luddite's folly. Tech people always write off the Luddites, even after the point at which they start to sound like them. It bears repeating that the Luddites were not indiscriminate wreckers or fools, and their ideas not “folly”. They were not trying to keep people stuck in the dark ages: they were trying to protect highly-skilled jobs. The same is true of the Amish and Mennonites: there is not just the one accommodation to reach with technology. Other accommodations are possible and may be healthier.

3LazTjBv-f 3y ago

And beside some slogans, how exactly will cryptocurrency beat that "archaic" system? As a customer there is exactly 0 benefit for be to use crypto. The single mobile app from my bank, allows me to pay for anything online in few seconds, contact-less credit cards do the same in brick&mortar shops. I am literally afraid that physical cash will die out, cause it isn't convenient enough.

simple-thoughts 3y ago
There’s a wide range of products and services that are native to crypto that you don’t have access too without a blockchain wallet. Now you personally might not care about nfts, tokens, exclusive clubs, blockchain games just to list a few, but other people definitely do. Also the parent comment is out to lunch, crypto will likely never replace fiat simply because there’s nothing preventing states from implementing the parts of crypto that succeed.
- JohnFen 3y ago
  > Now you personally might not care about nfts, tokens, exclusive clubs, blockchain games just to list a few, but other people definitely do. Sure, but those are niche things that most people will never care about. Awesome for the people who are into such things, but not a draw for everyone else.
pcdoodle 3y ago
As a customer of USD, there's attrition of purchasing power.
- Melting_Harps 3y ago
  > As a customer of USD, there's attrition of purchasing power. There is no denying that USD has sticking power, despite it's immense loss in purchase value since it's inception, but relative to all other currencies I guess it has won the attrition battle; though if I'm honest if that were the sole reason you should have been in GBP to remain consistent in your logic. Honestly, this is the best of bad options, but I guess the perspective if taken to it's logical conclusion is that: ultimately might makes right. The Petro-dollar Empire is backed by 'proof of violence' is a commonly held belief amongst (early) Bitcoiners, but because it can be obfuscated by many layers of abstraction the general public is often none-the-wiser: but is none the less true. I'm no longer the idealist I was in my teens or 20s as a (former) environmental-activist and felt people can be swayed by reason and logic alone; I've come to know most will never accept anything that isn't deemed in there own best personal interest, but just look around what we are dealing with in terms of potential nuclear war/contamination or environmental and climate cotastrophe; that is mainly attributed to the 'must grow at all costs' economic model that sustains the fiat system and makes nation-states war for influence of nations and there resources via unpayable loans and debt bondage. We cannot live like this for very long, so what good is a Roth IRA with fat margins if the end result is shorter life expectancy, diminishing quality of Life and the growing issue where you cannot access more things of value in those ever inflated units of currency as supply chains collapse under the strain of the aforementioned? I think this above all else is what needs to be understood, and if we really want to live in such a World anymore?