Comment on Wife changing money
LifeInMultipleChoice@lemmy.world 2 weeks agoId rather it be global and not local government controlled. The consumer protection is immediate. The only way the consumer value drops of the value drops for the entire world, in which a chicken cost the same as a chicken did yesterday, because the trade for a chicken is the same to the universal value of a chicken at that location yesterday
Holytimes@sh.itjust.works 2 weeks ago
Its government controlled regardless. Unless you have entirely free, unregulated, sovereign free energy, electrical distribution and internet infrastructure.
Crypto is just as reliant and controls by governments as regular assets. Its the same amount of steps removed as any “finite” item. But relies even more on the government then say gold.
Because it’s required to convert it to a normal currency to spend it or obtain it. It also intrinsically ties it self to government controlled currency.
Which in turn if a government really wanted the us or China for example could just start buying all of it with their control over the currency that the crypto requires to exist to have value.
Once they control the majority of it they just own it functionally.
LifeInMultipleChoice@lemmy.world 2 weeks ago
You are regurgitatating what the government wanted you to say without even reading what I said. I don’t want it to be crypto. I want it to not be owned by local governments. You’ve been taught to say all of that, and none of it is required. If a currency is accepted by people because they know they can use it, a local government has no say. If 340 million Americans started accepting penguin print as currency tomorrow, the government would try to ban it, call it only used for buying drugs, not actually backed by anything, doesn’t really exist, and everything you have heard about crypto… Because it takes power away from the government. But in reality they couldn’t do anything but accept that penguin print is a currency, because you can trade it for goods and services. And if 223 nations across the world do it… Then if a local government fails, the amount a chicken costs on penguin print, doesn’t fluctuate much