this post was submitted on 02 Jul 2023
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I love the idea of crypto as an actual currency but I think that's probably never going to be widely accepted and stable
I suspect it will. We in the western world (US, Canada, UK, EU, etc) are used to very stable fiat currencies. Ask a person from Argentina, Turkey, etc if they would rather have their national currency or crypto and i bet a lot of them would take the crypto. A 10% fluctuation to them is a blessing to them because if they hold their currency they may drop 100% a year because of inflation.
I mean that's great if those countries can benefit from it in that way, that'd be awesome to see
Not sure how that's going to come to Western countries though especially with how resistant to positive change our society seems to be
Also not sure our government would ever do anything that benefits the people and hurts the banks
Edit: also they can just use other currencies that are more stable than their own anyway
I think it will come to the western world at some point. Look at the 10% (governmyth reported) inflation in Europe and the 8% (governmyth reported) inflation we had in the US. the governmyth may have reported 8%, but my electric bill sure didnt stop their. Try more like 21% and you would get close. England is talking of implementing price controls and if that happens you will not be able to get a lot of things except in the grey/free markets. I am not even talking about drugs, I am talking about eggs and milk being sold in the free market. Crypto is great in the free market and not subject to governmyth money printing inflation. Take gold as an example. We have been taught "gold went up today" where the real lesson is "the dollar lost value today"