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Stop using Brave Browser
(www.spacebar.news)
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this post was submitted on 29 Aug 2023
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Technology
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That's not true. Fiat money is money created and managed by a government. We need separation of State and Money.
from The American Heritage® Dictionary of the English Language, 5th Edition.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
So you prefer your currency to backed by the full faith and credit of... nobody? And you think you're not being duped. Hilarious.
It's backed by math. There is a fixed amount of Bitcoin. We have never had the concept of "digital scarcity" before. There are thousands of computers running independently that are following a consensus algorithm. it's an open, permisionless, trustless system that anyone on the planet can be part of.
You would rather have money controlled by corrupt governments? Hilarious.
ipv4 addresses. Also bitcoin is the worst example here, as it's just an asset. It's not bearable as real money, you can't trust its always changing value. It's also a victim of constant market manipulation. XMR on the other hand is a relatively stable currency.
Bitcoin is also a privacy and ecological nightmare.
In general it's also really fun that you can lose all your money without doing anything wrong.
yeah, but we have ipv6 now. ipv4 was never designed to be a scarce asset, and it's managed by a centralized authority.
XMR is one of the best cryptocurrencies. Big fan of privacy!
I've been holding bitcoin since 2011. Haven't had any instances of "losing all my money without doing anything wrong".
But that's digital scarcity, even if not designed like that.
You didn't lose anything because it's completely random. There are big pools just randomly generating wallets to see if they get a used one. And they had multiple hits.
Even when not talking about people not good with computers, people mess up backups and forget passwords. They shouldn't lose their belongings just because of that.