Fiat doesn't work on a finite planet. Crypto has failed on its goals. What is a better way to be economically secure?

Newsflash: currencies shouldn’t wildly fluctuate in value. The fact that people use it like a stock market investment, (and an idiotic one at that, since there is no underlying business), is exactly why it has failed to be a currency.

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aviation_hydrated@infosec.pubOP

0 points

3 months ago

What does the term “wildly fluctuate” mean? In 50 years of USD fiat, gold vs USD has gone from 35$ to ~2000$ per ounce. That seems pretty rapid to me, since I can still talk to living people who experienced it

At least BTC has historically gone up, whereas fiat goes down, although only a few years of data for crypto compared to thousands of fiat, so maybe crypto will do the same as well

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dmegatool@lemmy.ca

-2 points

3 months ago

It fluctuate vs the Fiat value, not with itsleft. The supply of BTC is determined, not like the printing machines we got now.

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bionicjoey@lemmy.ca

2 points

3 months ago

Nothing’s value fluctuates with itself. Money supply is controlled through interest rates in modern economies because it works better than directly controlling the money supply. Your comment betrays an unsurprising lack of understanding of the most basic concepts of economics. You’re just parroting some talking points you’ve heard from techbros.

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hglman@lemmy.ml

0 points

3 months ago

No, you think economics is a physical science and it isnt. It works like it does bc its been made to work that way. It could work differently.

Also Bitcoin isn’t the only way cryptocurrency could or does work.

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6 points

3 months ago

yeah, it succeeded in scamming a lot of people for their money

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