this post was submitted on 11 Mar 2025
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Ok I'm talking about fiat currency as a concept though, not the USD specifically.
If your point is that fiat currencies are still vulnerable to some instability, then sure, I guess I agree, but fiat currencies are still orders of magnitude more stable than cryptocurrencies.
If a state converted from paper money to crypto, the only discernible differences would be like more computers, more transparency, less middlemen, etc. Crypto is literally just a new (distributed, open) form of accounting.
Sure, and that would make that cryptocurrency a fiat currency.
*Also, it's not even close to being new, the idea of distributed ledgers has been around for decades at this point.
Serious question: do the Europeans here have more faith in your governments than you do in obsessive internet people?
I can't answer for anyone but myself, and I'm not European, but I absolutely trust government more than anonymous obsessive Internet people. At least governments are theoretically held in check by those they govern. Internet randos don't play by anyone's rules but their own.