@WinterHold You keep making this argument that crypto is somehow different or perhaps even superior to other currencies. It is not. Other than not being created and controlled by a government, crypto is just another currency. It won't be any less susceptible to economic conditions than paper or gold, either.
Mining crypto with a powerful computer does not in any way make it better or different. That is a man-made, manufactured method intended to control the supply, and thus the value, of the currency, nothing more.
Gold is no more valuable than paper money and having to mine it doesn't make it valuable. The limited supply of gold is the only thing that allowed it to be used as currency. This is also true of silver. Also the ability to determine its purity level was a big help. A far more pure and ancient form of trade is barter. Using gold and paper just makes trade more convenient.
Another thing, Nixon didn't create fiat money. That appeared centuries earlier in the form of bank notes. All Nixon did was dethatch paper money from a gold backing.
Mining crypto with a powerful computer does not in any way make it better or different. That is a man-made, manufactured method intended to control the supply, and thus the value, of the currency, nothing more.
Gold is no more valuable than paper money and having to mine it doesn't make it valuable. The limited supply of gold is the only thing that allowed it to be used as currency. This is also true of silver. Also the ability to determine its purity level was a big help. A far more pure and ancient form of trade is barter. Using gold and paper just makes trade more convenient.
Another thing, Nixon didn't create fiat money. That appeared centuries earlier in the form of bank notes. All Nixon did was dethatch paper money from a gold backing.
Why is it so?
~Julius Sumner Miller
~Julius Sumner Miller
