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A comment on Hard Problems in Cryptocurrency: Five Years Later. Parent comment

Re:Hard Problems in Cryptocurrency: Five Years Later by hannasanarion on Sunday November 24, 2019 @11:16AM (#21621292)
I don't think you know what the word "fiat" means. Crypto is fiat currency. It's backed by nothing but wasted electricity and a lucky guess. You can't trade it in for anything of value.
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Re:Hard Problems in Cryptocurrency: Five Years Later by rmtech on Sunday November 24, 2019 @11:29AM (#21621404)
I do know what fiat means, and my meaning in this context is government-issued fiat such as dollars, pounds, euros, etc, though I think that was pretty clear to everyone else!
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Re:Hard Problems in Cryptocurrency: Five Years Later by hanniabu on Sunday November 24, 2019 @12:28PM (#21621860)
Gold is backed by nothing but scarcity, high energy costs to mine it, and utility. That's no different than ethereum.
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Re:Hard Problems in Cryptocurrency: Five Years Later by arcticbull on Sunday November 24, 2019 @10:17PM (#21625165)
Except the scarcity of digital assets is all pretend, since you can just fork Ethereum and make your own. You can't fork gold.
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