[rzanella]

Not being pegged to a state-controlled currency means your devalued currency competes with stronger ones, at least on the fictitious transitional period, you're sure you want that ?

Assuming a stateless money, when/if someone then steals your crypto coin, which gov't backed law/judicial system are you gonna turn to ?

[pcthrowaway]

> Assuming a stateless money, when/if someone then steals your crypto coin, which gov't backed law/judicial system are you gonna turn to ?

In many regimes where you can't trust the government, it's not really relevant what kind of currency is stolen, the police are probably not the people you'll go to for restitution.

There's an argument to be made that some cryptocurrencies (privacy-coins specifically) may also give you more protection from your finances being seized by a corrupt government, though you're generally SoL in such situations regardless of how you keep your money.

[dinobones]

if you aren’t wealthy you are effectively priced out of the US law/judicial system anyway.

If I took $5,000, maybe even $10,000 from you right now there would be almost nothing you could do because the legal efforts to pursue me for that amount would likely equal or surpass that.

[rzanella]

That's... unsettling.

10 years ago I had my bank account wiped/stolen in Brazil (!!!):

- went to the police, then to the bank (same day)

couple days later: all the money was back in my account.

[can16358p]

The probability of government controlling/seizing my money or fixing foreign currency rates (effectively limiting my income severely) is more than someone compromising my crypto wallets. I don't do anything illegal, I just live in a country with an extremely corrupted government and economy.

[IggleSniggle]

I think you misread their comment. They said that not being pegged to state-controlled currency is a dealbreaker, whereas you seem to be thinking they said it was something they wanted.

[rzanella]

> I think the author lives in a country with a trustworthy government because that's not the case for many people including me.

Well, given OP distrusts his government...

[IggleSniggle]

Right. His government is presumably not the same thing as a government that has had stable currency management for over a century.