you can't have a functioning currency if there is no agreed centralization.
Oh you can. I give you BCH for example as that is the crypto I'm most familiar with.
It has thousands of independent miners, half a dozen implementations and development teams, dozens of wallets and thousands of merchants worldwide.
how could one define exchange value?
The same way you would with any other commodity via bids and asks on the exchange of your choice.
If you ever took your car to a gas station to refuel, you'd figure out how this can work out. Notice how the price is never the same as it was last time, it's set based on supply and demand.
This is how trading was done back in the old days as well, there was no centrally managed price, just market price based on supply and demand. Back in the days staff would have to manually update the physical price tags, with digital price tags this is even easier.
You don't need a fat banker to rip you of every time you buy something or just because you want to store the value of your wealth, you only need to know how much the store want you to pay for a certain item, and if the price is too high you go somewhere else, if it's too low, the store can easily raise it.
CBDCs are the antithesis of crypto currency.
Oh you can. I give you BCH for example as that is the crypto I'm most familiar with. It has thousands of independent miners, half a dozen implementations and development teams, dozens of wallets and thousands of merchants worldwide.
The same way you would with any other commodity via bids and asks on the exchange of your choice.
If you ever took your car to a gas station to refuel, you'd figure out how this can work out. Notice how the price is never the same as it was last time, it's set based on supply and demand.
This is how trading was done back in the old days as well, there was no centrally managed price, just market price based on supply and demand. Back in the days staff would have to manually update the physical price tags, with digital price tags this is even easier.
You don't need a fat banker to rip you of every time you buy something or just because you want to store the value of your wealth, you only need to know how much the store want you to pay for a certain item, and if the price is too high you go somewhere else, if it's too low, the store can easily raise it.
Only pkvi and me read this shit day in day out