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Re:The digital currencies that matter by Bellamy on Saturday May 08, 2021 @01:45AM (#27084274)
Do you trust government or private banks more?
Re:The digital currencies that matter by ben_w on Saturday May 08, 2021 @02:52AM (#27084603)
For the task of keeping money in an economically useful state over time? Generally the government, but it depends on the country.

Banks have a profit motive and therefore keep trying to do things which value instant reward over stability.

Governments (when not corrupt) are motivated by the actual success of the nation as a whole rather than individual sectors. They mostly only need to care about short-term wins for elections.

Re:The digital currencies that matter by kqr on Saturday May 08, 2021 @03:07AM (#27084680)
Furthermore, if there's any branch of government that to me seems to be populated by actually intelligent people, it's the central bank.
Re:The digital currencies that matter by sofixa on Saturday May 08, 2021 @06:08AM (#27085636)
Not everywhere, but that does seem to generally be the case, and when it isn't, it's pretty obvious - e.g. Turkey.
Re:The digital currencies that matter by kwere on Saturday May 08, 2021 @07:24AM (#27086103)
erdogan selfappointed himself as central bank manager, do not undermine the work of the actual experts
Re:The digital currencies that matter by imtringued on Saturday May 08, 2021 @07:40AM (#27086201)
Yeah, Turkey is pretty much a go to case for "Don't trust the government, trust the central bank".

What Erdogan should do is to support the agriculture sector and help it provide enough food for everyone.

By forcibly lowering interest rates he is actually cutting off financing for the most productive companies. High interest rates are supposed to drive out unproductive companies and make it harder for them to acquire financing.

If the agriculture sector is highly productive (indicated by rising food prices) then it will automatically obtain more funding and other companies will have to downsize, which makes more resources and workers available to agriculture companies.

Re:The digital currencies that matter by lottin on Saturday May 08, 2021 @03:32AM (#27084825)
Aren't private banks supervised by the government? Trusting private banks means implicitly trusting the government and the legal system.
Re:The digital currencies that matter by seaourfreed on Saturday May 08, 2021 @10:36AM (#27087476)
Neither. That is why cryptocurrencies were created. 2008 Mortgage crisis blow-up mortgages stole citizen's money in bank accounts (deposit custodial accounts). The bailout was to hide/replace this money.

Citizens don't trust private banks. They don't trust the government since congress sells out to lobbyists.

Re:The digital currencies that matter by elevenoh on Saturday May 08, 2021 @03:57AM (#27084948)
I personally tend to trust what emerges from an open market free from institutional collusion most.
Re:The digital currencies that matter by Talanes on Saturday May 08, 2021 @04:21AM (#27085055)
Unfortunately that was neither of the options.
Re:The digital currencies that matter by imtringued on Saturday May 08, 2021 @07:43AM (#27086228)
Where do you see the difference between a private currency and a public (government issued) currency? What makes one of them worse?
Re:The digital currencies that matter by reedjosh on Saturday May 08, 2021 @01:52AM (#27084304)
Why should we be forced to chose?
Re:The digital currencies that matter by radiator on Saturday May 08, 2021 @04:21AM (#27085053)
None of the above
Re:The digital currencies that matter by bryanrasmussen on Saturday May 08, 2021 @05:23AM (#27085379)
depends which government and how much money I have. Right now I trust my government (Denmark) more.
Re:The digital currencies that matter by nathias on Saturday May 08, 2021 @09:32AM (#27086975)
I trust them about the same.