As I'm British, and at the time was very young, clearly not. But then the decision to link the USD to gold and my country's currency to the USD was taken long before I was born. How far back do you want to go?
These are totalitarian, invasive ideas. I believe exchange, commerce and cooperation should be voluntary.
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This (the force of the state) is just a description of how most money works today and has worked throughout most of known history. Whether one finds this morally acceptable or not is an entirely different discussion.
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Yes, and technology is attempting to offer a voluntary-based, more open, freer, less restrictive alternative to "force of the state" and "what has worked throughout most of known history"... Isn't it obvious?
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Doomed to fail.
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We're open to opinion, can you explain in more detail why you think it will fail? As you probably know BTC cannot be shutdown so I assume you mean fail as in failure to reach a larger target audience outside of the current echo chamber we currently reside in.
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1/5 Imho the crypto revolution will fail because crypto has value only to the extent that enough people *believe* it has value. Once people stop believing, the magic is gone, and the system implodes. Crypto appears to me to be more about religion than about tech or economics.
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2/5 Hence the almost religious fanaticism with which true believers attack those who criticize crypto. One cannot allow doubt to creep in because doubt undermines the very foundation on which the system is built.
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3/5 The more one understands crypto the less trust one has in it. Ignorance truly is bliss when it comes to crypto.
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4/5 The beauty of fiat currency issued by the state (USD being the prime example at present) is that its value derives not from faith or belief, but from the economy's capacity to produce and the state's ability to capture part of that production in the form of e.g. taxation.
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