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Joined 4 months ago
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Cake day: July 19th, 2024

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  • Yeah there are lots of bad actors in the crypto sector, similar patterns existed in the US when towns and companies were issuing their own currencies

    And yeah the US and many developing nations have old infrastructure, the EU and China have the pinnacles of fiat payment systems, but the roll out for upgrades are low and expensive

    I couldn’t agree more, it’s a human issue. I think a finite transparent currency would be useful since it would squash the worst actors (fraud, embezzlement and hidden budgets, in the private and public sectors), but that’s just my guess

    I think more importantly is community and having conversations like these because nothing is a “silver bullet” and we should better as a species. Thanks for chatting, you seem cool




  • Well, most of our current economic payment system is smoke and mirrors for the majority of the world. In the US, bank transfers can take up to weeks to process, and the only reason why it looks fast to end users is it’s insured so they just change the digits on the screen

    I’m not necessarily sold on crypto, I am just over the fiat system. Living through multiple economic collapses, seeing prices rise and only held low due to government supplements and corrupt lobbying, and the general way fiat leads to over consumption will do that

    Give me something better and I’ll take it. I know it’s slower than cash, clunky and uses as much resources as google, but right now those aren’t draw backs to me in this current environment where we need debt to sustain day to day existence




  • I think the creators had some knowledge of how currency worked, since there has been movements to make digital money in the cryptopunk scene for 20+ years before BTC. Also, you don’t need a degree to be an economist, a library card works just as good

    Having a fixed supply might reduce astronomical debts but still allow for smaller debts or ones that are collateralized. But yeah, day to day life would be drastically different. No credit cards for sure, but also no compound interest, because can’t have compounding interest on anything with a fixed supply or it will acquire all of the resource (or at least attempt to)