Re:Coordination, Good and Bad
by cblconfederate on Saturday September 12, 2020 @01:51AM
(#24450179)
Crypto directly undermines the concept of national currencies (the real US product is the dollar, right?). Crypto would enable people to literally 'vote with their wallet' by exiting from a currency they don't like into another. National currencies are defended with weapons, so until someone uses crypto to buy nuclear weapons, governments will forever undermine and neutralize crypto.
[ Parent
| on HN ]
You are immediately going from 0 to 100. A new currency begins with marginal uses and then expands. Give it some time before bitcoin buys nuclear weapons!
Re:Coordination, Good and Bad
by freddie_mercury on Saturday September 12, 2020 @09:24AM
(#24452226)
That's actually the opposite of how real world currencies work. They do not start with marginal cases and expand. In almost all cases they start with the most important cases -- the government says "you must pay taxes in currency X or suffer consequences".
This is pretty well established in the history of currencies.