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Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by philwelch on Wednesday April 12, 2023 @07:53PM (#35548804)
Crypto would be extremely useful if it were wholeheartedly adopted by the government of a medium-sized country. The fundamentals of cryptocurrency are as good as the gold standard, maybe slightly better, and could be better than fiat; the problem is that no one pays their taxes in it so no one uses it as a real currency. Likewise, NFT’s could be used to implement property titles if a government ever agreed to enforce them. Then things like smart contracts and whatnot start to look a lot more interesting. The problem is that the entire crypto economy is a fake play-money ecosystem with no power over physical reality.
Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by philwelch on Thursday April 13, 2023 @11:48AM (#35557273)
This went from +2 to -1 overnight, and I'm not complaining; I'm just curious if I got downvoted by the crypto haters or by the crypto supporters. Such is the risk of expressing a nuanced opinion on Hacker News I suppose.
Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by nly on Thursday April 13, 2023 @05:10PM (#35562100)
The thing you're missing is there are no incentives for a sovereign nation to give up the ability to mint their own currency and control its supply (monetary policy).
Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by philwelch on Thursday April 13, 2023 @06:13PM (#35562838)
There’s a reason I said “medium-sized country”. The US, EU, and apparently now China wouldn’t be interested because they are world reserve currencies, or aspire to be in China’s case. On the other hand, you could probably make a case to voters for cryptocurrency to replace something utterly dysfunctional like the Argentine peso. Crypto doesn’t really do much for a country with functioning and trustworthy governing institutions, but not every country has that.
Re:Mass Layoffs and Absentee Bosses Create a Morale Crisis a... by CRConrad on Monday April 17, 2023 @07:44AM (#35599343)
> The fundamentals of cryptocurrency are as good as the gold standard, maybe slightly better, and could be better than fiat

The fundamentals of cryptocurrency are just as fiat as any other currency, including the gold standard.