[zajd]

Unfortunately for Bitcoin all of the issues 99% people have with fiat currency today have literally nothing to do with how money is created. Yes, it's a difficult problem to solve. No, Bitcoin has not solved it. Piggybacking on the electrical grid to turn "fairness" into "how much electricity you can afford"... how is that fair?

[AsyncAwait]

I haven't said it's "fair", only that there's a proven algorithm behind it, which I'll trust more than the goodness of human nature alone.

[zajd]

I don't trust the goodness of human nature, I trust the legal and financial system that we've collectively built over the past millennia. Which actually does (at least attempts to) enforce some level of fairness. Why should I sign up to have the future of the financial system be controlled by an "algorithm" that is built on a technology (non-quantum crypto) that could be dead in less than 50 years?

[EdHominem]

> I don't trust the goodness of human nature, I trust the legal and financial system that we've collectively built over the past millennia.

I don't like X, I love X.

Your distrust of human nature has caused you to double-down on trusting human nature. Those elaborate systems to counter human nature are built on, get this, more human nature.

> the future of the financial system be controlled by an "algorithm" that is built on a technology (non-quantum crypto) that could be dead in less than 50 years?

Well, it's only one coin, with one algorithm, and people are pricing that into its value. But show me a better system. Not even the USD has a 50-year guarantee. Not only are your dollars likely worth 10% of their current value in fifty years, but there's an even chance that something has wiped their value out completely.

You're just irrationally afraid of crypto risk and irrationally accepting of human risk.

> Why should I sign up

Oh, I see your issue... Don't worry, nobody wants your permission any more than they do with USD. You don't need to, and can't, do anything.

[Mickydtron]

Regarding the trustworthiness of social institutions, there are mechanisms for creating more trustworthy systems on top of less trustworthy parts. A simple example is TCP. It is a leaky abstraction at times, yes, but it is more trustworthy in the face of adversity than UDP is.

This is not to say that our current batch of social institutions are even as trustworthy as TCP, just that it is possible to build institutions that are, and that we have a lot more experience as a civilization with debugging social institutions than we do debugging software. Thus, I do not think it is paradoxical to lean on social institutions to reign in raw human nature.

[EdHominem]

> the issues 99% people have with fiat currency today have literally nothing to do with how money is created

Not even remotely. Everyone is China is acutely aware that the government can print their money into oblivion. That's why they're rushing to dump it into anything. Hundreds of millions have been through this in other countries in recent years.

> Piggybacking on the electrical grid to turn "fairness" into "how much electricity you can afford"

Piggybacking doesn't mean what you think it does.

> How is that fair?

Fair doesn't apply in the world. It's hard to cheat and thus predictable and that's all it needs to be.

fwiw, fiat isn't fair either. Nobody came by to give me my share...