The Truth About Cryptocurrencies: A Clearheaded Guide to the Crypto World
(www.expensivity.com)
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Crypto coins are technically fiat currency, unless they are 1:1 backed by PM assets.
Every man woman and child could potentially create their own crypto currency based on their time. And those accepting it will have to deal with the risk involved, but on averaging out these risk, they are not higher but lower than Central Bank shit. Why? Because it is tied to production time. The other dimension is market value which rises and fall with what is produced and the value it has to society at large.
However, that would presuppose absolute transparency, and having all your personal data tied to your currency.
Since I am far removed from seeing this as a very desirable outcome of the migration process the elite wants us to be part of, I am not even going to support one move in that direction.
Quite the contrary. I would advice: analogize your life is the ticket.
What? doesn't make any sense. Backed by PM? How does that even work? Hint: it doesn't.
You're conflating crypto with bitcoin that's one thing. The other thing is it's fine that people can create their own.
You know why? Free market. Accept what you will. Why should it be in the hands of banksters/money changers?
Have not met one that understands bitcoin deeply yet that's not a fan.
Try and read the Bitcoin Standard by Saifedean Ammous. It will change your mind.
I read the Bitcoin Standard when it first came out when it was heavily pushed and recommended by Bitcoin advocates. I was unconvinced then, and still am. There are far too many logical fallacies and false assumptions throughout it to make a compelling argument for me. I recommend anyone to read it, but to analyze it with a discerning mind.