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A comment on Nouriel Roubini: Bitcoin is not a hedge against tail risk. Parent comment

Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk by SideburnsOfDoom on Wednesday February 10, 2021 @01:19PM (#26092841)
> I believe the value of cryptocurrency is to neuter governments' abilities to inflate or devalue currency with the push of a button

Central banking is necessary function of government. If government saw their ability to do it being actually "neutered" then it would get shut right down.

I am not saying that it can't be mismanaged by a state, but you do not have anything better than state fiat money.

> personally think of cryptocurrency like a constitution but for money

(eyeroll)

> Let's ride this puppy and annoy some people.

You ride on. Ride off. Ride far away.

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Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk by bustin on Wednesday February 10, 2021 @01:33PM (#26093008)
>I am not saying that it can't be mismanaged by a state, but you do not have anything better than state fiat money.

I agree with this! At the moment I don't see many things that are better yet. I hope to see an obvious winner someday.

EDIT: For the record, I hold no Bitcoin. While it has a lot of potential value in creating Freedom To Transact, I'm not convinced the current price per unit is anything but a Pump and Dump. If Bitcoin is a Constitution of Money, it's a pretty fucked up one.

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