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posted 3 years ago by pkvi 3 years ago by pkvi +10 / -1
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– CrazyRussian 1 point 3 years ago +1 / -0

Any possible currency relies on third party. Even gold. You definitely need third party to make it valuable. If nobody accout gold as something valuable, but just a soft metal not even good enough for most things, then gold can't be a currency.

So, you need a third party to create currency. It is third party that attach a value to a thing making possible to use it as currency. And here goes differences - what third party make thing used as currency valuable. Third party for official fiat is a state. Third party for independent crypto or gold are those who agreed to use it as currency.

In the first case state is in full control. In latter one, the only thing state have to do is to request to not use independent currency without any possibility to enforce it, unless people will loose right to own something privately. Hopefully we are still far enough from that wet dream.

If you think that gold itself have some property that makes it currency, and that it is something obvious that don't need any proof and could not be questioned, you are wrong. It is literally third-party, i.e. people who make gold valuable, so making it possible to use it as currency and not some magical internal property of gold itself.

Same with any other independent currency, whatever it is. If some people see some value in it, it could be used as a currency among that people, and no government could take that value from it. Government could only try to convince people that the thing that is used as currency have no value. And here comes a question - will government be able to finally convince nearly all people in that, or not. And now, government could convince people in something only using MSM and social crap. So, it is strange for me when you talking about burning the bridge and at the same time helping government to devalue independent currencies that gained their value not by some government legislation, but by the will of people who began to use it.

For now, f.e. I don't see any enthusiasm among people about CBDC, like they have about BTC/XMR/other independent crypto. So, there is ultimate difference between CBDC and crypto in the source of trust to that currencies. And government trying hard to pose CBDC as something just like independent crypto, hiding that huge difference, that is obvious for any sane human. So, again, I do not understand, why you aligning with that government efforts to hide that enormous difference between CBDC and independent crypto.

All in all, even if all normies will slide from BTC to CBDC, still nothing will prevent sane people from using BTC as a currency.

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