Comment on API error knocks PayPal, Venmo offline around the globe

• shortwavesurfer@lemmy.zip ⁨1⁩ ⁨day⁩ ago

  Cash still loses value at the whim of the central bank and therefore is good in that it cannot be confiscated electronically but bad in that it can be confiscated quite well through inflation. Sure, you absolutely may have the same amount of notes in your pocket, but those notes buy less and less over time.

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  • JackbyDev@programming.dev ⁨1⁩ ⁨day⁩ ago

    Cash still loses value at the whim of the central bank

    You don’t believe that an unregulated and anonymous money like crypto doesn’t have its price manipulated?

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    • shortwavesurfer@lemmy.zip ⁨1⁩ ⁨day⁩ ago

      True, but the market decides what it’s ultimately worth. For example, Monero, on the 365-day moving average, is worth $152.31. And it fluctuates within about 6% of that level, almost always.

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      • JackbyDev@programming.dev ⁨1⁩ ⁨day⁩ ago

        It’s weird to me that you believe the market ultimately decides what crypto is worth while acknowledging manipulation happens, but don’t believe the market ultimately decides what the US dollar is worth while acknowledging the fed controls the rate of inflation.

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  • possiblylinux127@lemmy.zip ⁨1⁩ ⁨day⁩ ago

    That’s interesting criticism coming from someone recommending crypto

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    • shortwavesurfer@lemmy.zip ⁨1⁩ ⁨day⁩ ago

      I don’t see how considering that Monero, which is actually used by people as money, has a supply inflation of less than two percent. And if I remember correctly, Bitcoin also has a supply inflation of less than two percent. Other cryptos are not money. They are either utility tokens to be used for a specific purpose or complete and utter degenerate scams such as meme coins.

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      • deltapi@lemmy.world ⁨1⁩ ⁨day⁩ ago

        I don’t agree. My raw ETH holds up pretty well as money.

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  • corsicanguppy@lemmy.ca ⁨1⁩ ⁨day⁩ ago

    1. Not sure the point
    2. Not sure the relevance
    3. Not sure the timing.

    Its like a kid on the transit bus talking about dinosaurs.

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