Netherlands must ban cryptocurrencies immediately: CPB head

Post by _tshin_ » Fri, Jun 11, 2021, 2:21 PM UTC

jokethrowaway wrote: post #22

kuroguro wrote: post #6

There's plenty of valid criticisms against crypto, I feel like they've picked some of the weakest ones. > cryptocurrencies are used because people think they will one day replace traditional money Maybe a tiny minority, sounds like a strawman. > a contagious story in which people believe because other people believe in it Isn't fiat the same? Money only has value because people believe it has value / will have value…

Fiat is backed by weapons. The same weapons that defend your house from other countries and force you to give up half your salary. My main criticism to cryptocurrencies is that they're mostly unbacked. The ones that are backed by Fiat have similar problems to Fiat currency (why would I need that?), the ones that are backed by physical assets are much more interesting - but they don't seem to be the mainstream ones, p…

Post by gifwithaj » Fri, Jun 11, 2021, 2:22 PM UTC

elzbardico wrote: post #41

It makes a lot of sense for a country that has significant portions of its territory below sea level. But, I wonder. For years I was absolutely baffled by how the world decided to ignore crypto environmental footprint. Then, out of the blue, a few months ago, it looks like EVERYBODY is talking about it. Then, the G-7 wants to impose the beginning of a global tax regime upon the developed nations (that's what it is ba…

Post by injidup » Fri, Jun 11, 2021, 2:24 PM UTC

yunohn wrote: post #19

kuroguro wrote: post #6

There's plenty of valid criticisms against crypto, I feel like they've picked some of the weakest ones. > cryptocurrencies are used because people think they will one day replace traditional money Maybe a tiny minority, sounds like a strawman. > a contagious story in which people believe because other people believe in it Isn't fiat the same? Money only has value because people believe it has value / will have value…

> Maybe a tiny minority Wait, what? That’s like the main reason people give when pumping it - “Bitcoin will replace fiat and it’s a good hedge against normal money.”

Post by wyager » Fri, Jun 11, 2021, 2:26 PM UTC

jokethrowaway wrote: post #22

kuroguro wrote: post #6

There's plenty of valid criticisms against crypto, I feel like they've picked some of the weakest ones. > cryptocurrencies are used because people think they will one day replace traditional money Maybe a tiny minority, sounds like a strawman. > a contagious story in which people believe because other people believe in it Isn't fiat the same? Money only has value because people believe it has value / will have value…

Fiat is backed by weapons. The same weapons that defend your house from other countries and force you to give up half your salary. My main criticism to cryptocurrencies is that they're mostly unbacked. The ones that are backed by Fiat have similar problems to Fiat currency (why would I need that?), the ones that are backed by physical assets are much more interesting - but they don't seem to be the mainstream ones, p…

Post by wyager » Fri, Jun 11, 2021, 2:27 PM UTC

injidup wrote: post #55

yunohn wrote: post #19

Earlier quoted context omitted.

> Maybe a tiny minority Wait, what? That’s like the main reason people give when pumping it - “Bitcoin will replace fiat and it’s a good hedge against normal money.”

When normal money has failed good luck finding a wall charger to get into your Bitcoin wallet. Or more precisely the thing that makes electricity and computer hardware cheap and which is a prerequisite for crypto is a functional economic system. It is unlikely that a functional economic system will stay a whilst there is at the same time a collapse in fiat and a subsequent rise in crypto. It feels like wishful thinki…