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merc@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

Gold being a commodity because its shiny and therefore has value is no different than “I want to use this coin to better protect my data and privacy”.

It’s completely different. Gold is a commodity because it is inherently useful in itself. If someone invented a way to create gold out of thin air, people would continue to want gold because it’s pretty and shiny, and because it’s a very good electrical conductor that doesn’t tarnish. Crypto coins are only useful because everyone thinks that a greater fool will come along and pay as much or more. Everyone knows they have no inherent value, but so far there has always been a greater fool.

You are wrong that money has always existed as state issued. That isn’t true

Sure it is.

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