You have a point, many aren't able to see it. So lets just start with the first premise that money is just a ledger. Its only use is to keep track of what we all owe to each other. Do you agree with this?
Democracy is an illusion as long as the government controls the money. Look at some of the sentences for petty tax evasion...it's ridiculous. In my city they can actually auction your house off for delinquent property tax or even an unpaid city utility bill...and at no burden to get anywhere near market value. The whole system is corrupt and we are pawns. I mean they don't auction your car off for unpaid parking tickets but they think it's justified to auction off somebody's home.
Tons wrong here, but let’s just start with the premise that everyone is served well by their fiat currency. This is objectively not true at all. In fact, it’s the opposite. Sure people in the US and the UK and to a lesser extent Europe and Japan are probably perfectly fine with their fiat currencies, and aren’t the wiser. But what about all the people, and it’s not a trivial amount of them, that live in a place where their fiat currency is deppreciating rapidly. I’m talking triple digits or high double digits per year. They literally are getting poorer by the second by just holding their national currency. now think about all the people, many of which are the same people, that live in dictatorships what countries with capital controls, and other unpleasant things. Many of these countries have little semblance of property rights and the government can just take your property at will. bitcoin essentially solves all of those problems for these people, and in one fell swoop, and that’s not even it’s only used case. You gotta open your eyes a little more.
Well then you have an easy answer for these "problem countries" Just encourage them to go ahead and adopt Bitcoin as their national currency. Problem solved. Your a genius!
I am not saying it should be their national currency. In fact, I really don’t view bitcoin as much of a currency at all at this point maybe one day. I am saying it’s at least an option for them to opt out when they have no other option otherwise. Do you deny this?
Lol you think that taking someone's home over a utility bill is democratic? It's draconian. It's completely disproportionate. I doubt you'd be so cavalier about it if it happened to your or someone in your family. https://wpde.com/news/nation-world/...r-occupied-home-tax-sale-investment-companies
You'll be pleased to know that Professor Randall Wray* agrees with you and goes a bit further beyond your "not much of a currency" all the way to "not a currency at all". That's because all true currencies, including fiat, are liabilities of the issuer. (I.O.U.s in other words). See Wray's comments here: The best option for countries experiencing too much inflation would certainly not be to try and adopt bitcoin as the country's unit of account. ________________________ *Wray, a Minsky protege, is a well known economist. His 1998 monograph entitled "Understanding Modern Money" along with Warren Mosler's 1995 "Soft Currency Economics" are considered seminal works in what is now being referred to as Modern Money Theory.
Taking Lindy Effect into consideration, how long will crypto have to thrive before you change your opinion to -> it is more than likely here to stay?
so some MMT guy also doesn’t think bitcoin should be a national currency at this point is your life, just like I said? Cool