Comment on Over 2 percent of the US’s electricity generation now goes to bitcoin
TypicalHog@lemm.ee 7 months agoOk, but thinking crypto won’t be widely adopted is just wishful thinking. Do you honestly see a reality in the future where it’s not widely adopted?
If so, I would be curious to hear how that would work and what would people use instead?
Sanyanov@lemmy.world 7 months ago
Uhm…people would use traditional finances? Banking system ain’t going nowhere, and CBDCs make their turn - as dystopian as they are, it’s super easy to force them upon people.
What would be wishful thinking is assuming most countries will happily adopt crypto. And besides - that’s even more of a dystopian scenario.
TypicalHog@lemm.ee 7 months ago
What makes you think the FIAT system won’t end up in a hyperinflation? And if it doesn’t (lol), what makes you think people won’t wake up and realize crypto only goes up against FIAT and it’s fixed supply? And if we do get CBDCs (which I believe we will, especially since that’s probably the only way they can try to save and transition the current system into something that doesn’t implode), what makes you think people will just gladly welcome them and not opt out for the alternative (crypto)? I hold strong belief we will live in a hybrid CBDC + crypto world fairly soon.
Sanyanov@lemmy.world 7 months ago
People had 15 years to “wake up” now, yet they didn’t. Partly due to volatility which makes planning near economic future impossible, but most importantly because they still get their wages in fiat, pay for products in fiat etc.
The state doesn’t have incentive to change the regulations that favor crypto because crypto is generally worse as actual money as opposed to store of value for the reasons described above.
Crypto bros will shill “crypto everywhere soon” narrative every time they can, and I’ve seen it since at least Mt. Gox era. But until the regulations will be there (and they won’t), nothing is gonna happen.
TypicalHog@lemm.ee 7 months ago
I appreciate your opinion. But why do you think FIAT will survive and how?