Re:Why Bitcoin is worse than a Madoff-style Ponzi scheme
by CryptoPunk on Wednesday December 22, 2021 @11:40AM
(#29651634)
>>Before nation states had central banks you could find regional currencies all over the place. It was a mess. One of the main issues is that most of them weren't guaranteed in any way, similar to what we see with crypto today.
It wasn't a mess: https://www.alt-m.org/2021/07/06/the-fable-of-the-cats/
One thing to keep in mind about having different currencies out in the wild and usable within the same system, we've already had something like this. Before nation states had central banks you could find regional currencies all over the place. It was a mess. One of the main issues is that most of them weren't guaranteed in any way, similar to what we see with crypto today. Its only a matter of time before this bites people in the butt again. And the nation states and their central banks will still be there cashing in on the calamity.