[ImHereToVote]

I'm not a crypto bro by any means, but I think crypto satisfies those criteria.

If you want to know the actual answer however. The answer is debt. Or more specifically assets and liabilities on various bank ledgers. Those banks organically set the value to monetary systems. This system would fall apart without a forced taxation system for a given currency.

The actual value is debt and taxation. I'm not complaining, who am I to criticize? But that is the answer.

One could conceive of such a crypto ledger system, and that would be a CBDC.

[9dev]

Doesn't that come down to the same thing effectively? Debt and taxation are details of a system of trusted authorities built around the economic system of human work.

And if we consider a CBDC to still count as cryptocurrency, in my opinion we've just shifted the goal posts from a decentralised, anonymous, revolutionary, grass-roots form of digital currency to the technical underpinnings of the digitisation process of the global banking system.

[ImHereToVote]

The current centralization is what keeps it "stable". This stability makes the currency lose it's value in a very gradual way. Only housing, property, education, and healthcare are gaining value at a outlier rate.

Decentralization will incentivize hoarding. Why spend crypto when it might go to the moon tomorrow. Maybe that is a feature, maybe not.

I don't judge.