I’m not saying that governments are the most trustworthy institutions in the world, but as someone who tried to be an early adopter of blockchain from both a tech and a financial perspective, I immediately assume that anything that has the word “crypto” in it is deeply flawed and inherently untrustworthy. I’ve unfortunately learned this from experience.
Comment on Buying a $250 Residency Card From a Tropical Island Let Me Bypass U.S. Crypto Laws
shortwavesurfer@lemmy.zip 2 days agoAh, okay. See, we are exactly the opposite in that case, because I have lost all faith in governments, and therefore have lost all faith in what they call money.
mosscap@slrpnk.net 2 days ago
ALiteralCabbage@feddit.uk 2 days ago
I understand the inflation argument, but what gives crypto any value other than a) a relative value which is based on fiat currency anyway and b) the faith of the userbase in it?
shortwavesurfer@lemmy.zip 2 days ago
What gives any currency any value other than human belief in it? After all, when fiat currencies become valueless, we as humans end up back at gold, which has been in use for millennia.