As opposed to the US dollar, or euro, or ruble or ...?
I will never understand how people fault crypto for not somehow magically solving the world's financial ills, as if humanity has ever had another (successful) plan for wealth distribution. How's that communism working out?
Crypto is meant to solve the trustless distributed ledger problem, nothing more, nothing less. Expecting human nature to somehow change because of this technology is ridiculous.
Simply asserting something doesn't make it true; concretely, before crypto, we had no means to trustlessly distribute a ledger, now we do and could start working towards a practical solution that doesn't let random banks and governments mess with currencies as much as they like. I'm not an economist but that seems like a pretty big deal.
I'm not a bitcoin proponent by the way, and am well aware that it has massive downsides like the proof of work energy usage (addressed by proof of stake but often ignored because of bitcoin always taking the spotlight). I'm just sick of people naysaying without understanding the fundamental problem it actually does solve, and pretending there's no value or potential in the technology at all.
With the USD, Euro etc it’s in the hands of bloodthirsty warlords. This has always been the case so it’s mundane and kind of tolerable. With BTC otoh the “whales” are actually a bunch of fat neck beards who have no real power of their own. That is intolerable. I mean I would rather the world be ruled by a violent psychopath than it be ruled by some nerd.
Except it's extremely unsuited for this purpose despite of what some delusional people might be thinking. No (at at least semi stable) country ever will use bitcoin as their primary reserve asset...
My argument is just as substantive as the pro-bitcoin ones and spending any meaningful amount of effort arguing with these people is just like fighting windmills.
But no, not because I say so but because it's obvious if you have at least a cursory understanding of the international monetary system works.
> Okay, so not because you say so but because you think so :)
Well.. I mean it's a bit like the "climate change is fake" or "5G causes cancer" people. Getting into a serious argument with them only legitimizes their viewpoints and makes them seem just as valid for not good reason..
You can build a monetary system atop Bitcoin using convertibility. I don’t see what’s so crazy about that. I mean, right now I get paid in fiat controlled by septuagenarians that’s guaranteed to lose value unless I use it to buy assets they own. Plus they tax half. It’s a pretty bad deal for most people.