| > The US Dollar lost half its value in my short lifetime. Most other currencies have done worse. You are describing ordinary inflation, and using the word "hyperinflation" to make it sound scarier than it is. That is FUD. And "lost half its value" completely ignores the fact that nominal wages have increased at the same time. Please don't use this first-grade nonsense on Hacker News, you're talking to intelligent people here. > At a time when the US Dollar is falling in significance as a global reserve currency, and a central bank holding ~$4.5 trillion in assets, you have no doubts? The US dollar is falling in significance as a global reserve currency, being replaced by... the fiat currencies of other nations. How does this prove the ascendancy of Bitcoin? > I understand SHA-256 and ECC; they are easy to trust and more trustworthy than authority. You did not read my previous post. Bitcoin itself it perfectly fine, but it is too low-level to use for most practical transactions, you need to build layers of abstraction (futures, exchanges, wallets) on top of it. These are mostly run by companies that are either extremely shady, have terrible security, or both. > What backs FDIC insurance? A haircut, or printed money? A large insurance fund paid for by bank taxes, as even a few minutes of research would tell you. There are good arguments in favor of Bitcoin, but I want you to understand that when its defenders routinely trot out the same easily-disproven cookie-cutter arguments repeated on autopilot, it becomes very easy for people not to take you seriously. |
Banking is a Prisoner's Dilemma, because the first ones to escape get their cash, the middle ones deal with insurance, and the last ones lose everything.
Use always-audited Bitcoin. Readers here have an advantage of being able to understand the underlying technology.