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A comment on I am often asked if I will “return to cryptocurrency”. Parent comment

Re:I am often asked if I will “return to cryptocurrency” by imtringued on Thursday July 15, 2021 @07:29AM (#27843545)
Crypto is money but this time I'm the one in power instead of the government! There are entrenched powers in the government system? No problem, we can become the entrenched power in the new cryptocurrency!

Literally nobody in the cryptocurrency space is thinking about how to make fiat fair and sustainable because they actually like the flaws of fiat and just want to amplify them for their own benefit.

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Re:I am often asked if I will “return to cryptocurrency” by mikeblackson on Thursday July 15, 2021 @08:54AM (#27844106)
What would make fiat "fair" in your opinion?

The only thing I can think of is stopping the constant debasement that the poorer holders are unaware of.

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Re:I am often asked if I will “return to cryptocurrency” by jokethrowaway on Friday July 16, 2021 @09:09AM (#27855832)
Backing fiat with real assets stored somewhere (not necessarily gold)

I don't think cryptocurrencies solve anything though, they're equally not backed and they don't even have weapons or an economy behind

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Re:I am often asked if I will “return to cryptocurrency” by mikeblackson on Saturday July 17, 2021 @07:43AM (#27865128)
How do you make sure fiat is backed by the necessary amount of real assets?

Without a concrete safeguard, we would eventually fall back into the debasement scenario again.

I believe this is the problem bitcoin is attempting to solve. The asset/value is inseparable from the monetary network which makes it easily auditable.

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Re:I am often asked if I will “return to cryptocurrency” by agumonkey on Thursday July 15, 2021 @11:45AM (#27846058)
I find that native. People with billions have more power than me on bitcoin, they can play me like a toy. cryptocurrencies aren't perfect, maybe better than fiat .. and that remains to be seen IMO, it's only 10yo.
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