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While the author's stance is idealistic, I don't think this response addresses the author's basic point. To address this statement: "First of all, nobody keeps
by apeace 14y ago
While the author's stance is idealistic, I don't think this response addresses the author's basic point.
To address this statement: "First of all, nobody keeps all of their assets in fiat currency"
1) Bitcoin is not a fiat currency, which is the point.
2) The dollar is a fiat currency, and plenty of people (and countries) keep all their assets in the form of dollars
Of course property is not fiat currency, but lots of property these days is not owned but instead is either leased or bought using debt.
The point about torture is well taken, but torture can't be used on you if the government can't identify who you are.
I don't believe Bitcoin is a "fiat" currency. Gold has value as a currency because of its properties as a metal. Bitcoin has value because of its properties as a P2P network: anonymity, guaranteed not to hyperinflate, free transactions, and the other things the author mentioned.
So, I think as these properties become more and more valueable, so will Bitcoin.
- taligent 14y agoJust note that cash can also be anonymous, guaranteed not to hyper inflate, free to transact etc.
- blake8086 14y agoBy what mechanism is it guaranteed not to hyper inflate?
- csense 14y ago> The dollar is a fiat currency, and plenty of people (and countries) keep all their assets in the form of dollars The point I was trying to make is that most people's assets include some physical items like food, shelter, clothing, appliances, vehicles, computers...regardless of what currency you hold, these physical items can all be physically seized.