| Yes, gold is another awful deflationary currency that drives people to poverty. The vast majority of people were poor on the gold standard. (Consider also, how much https://en.wikipedia.org/wiki/Cross_of_Gold_speech spoke to the people). In any case, crypto isnt a currency. Comparing it to any currency presumes vastly too much, let alone "fiat" which has enabled the fastest increase in general wealth in human history. Crypto is a extremely slow, extremely operationally expensive, nightmarish system of baseball card printing. Designed explicitly to progressively, over time, dramatically increase the power and wealth of the early-stakers. Its value only exists whilst people continue to buy it. Whether deflationary currency is a good idea or not (it isnt: it's horrific); whether digital currency is a good idea or not (it might be); crypto isn't (really, sorry: its scam -- pushed knowingly by scammers, and unknowingly by those holding very very very expensive tulip bulbs, who "just cant see" why everyone doesnt want tulips). The game crypto people play is this: talk about the tech with finance guys to bamboozle; talk about the finance with the tech guys, to bamboozle. Talk about fiat/politics/gov with everyone because "presumably there's something wrong with the economy right guys!!11! financial crash, etc etc.". Despite, of course, the last half-century being the most wealth-productive for everyone in human history. This is a confidence trick. Crypto has nothing to do with why blockchains are useful (mostly, they arent). Nothing to do with non-fiat currency (an inflationary one might be useful). Nothing to do with politics (a system which increases the power of a few early adopters is NOT! better than democratic politics). Crypto is a scam. Blockchain, non-fiat, digital, anti-gov blah blah is the mask the scam wears. If you want a digital non-fiat anti-gov currency, go ahead and make one. Crypto *is not that*. |