Crypto: Educated Criticism or Professional Larper?

"If you don’t understand how fiat money works, you’re not qualified to judge whether cryptocurrency will be successful or not, period."


And that's the gist of this article, which I fully agree.

People that I've talked to that has pushed back hard against crypto will usually give the same arguments that people were already talking about in 2012.
"Something so volatile cannot be money."

"People will not use it."

"Governments will not allow it."

Tell this to anyone who is deeply involved in crypto right now, they'd probably snort.

Most people cannot understand the concept of money, and worse, confuse and think that FIAT money is the definition of money.

The reason why most people are not convinced by cryptocurrency is simply because they are either accidentally or willfully ignorant about fiat money.

You're telling me that they are actually people that exist who understand fractional reserve banking, debt, what is fiat money and government money printing, BUT yet they don't see the value of Bitcoin / cryptocurrencies?

LOL.

I call bull - f***ing - shit.

People simply do not understand fiat currencies. Most people have never seen a chart on their own local currency fiat money supply.

I wanted to show the M3 of various countries, but honestly, who gives a shit about facts these days, amirite? As if me showing you blatant, unchecked money printing is going to change your mind. You'd probably think that it's good, since it supports asset prices, heh.

Anyway, the reason for me to write today's blog post is to try to convince anyone with an open mind about the future of cryptocurrencies.

The article is an excellent one and honestly, just give it a read.

Here is my favourite excerpt:

"Understand that the success of the system is contingent on an unwavering belief that throughout history innovation has always disrupted what currently exists.

 If a system is better, exponentially so, then nothing will ever be able to stand in the way of progress. For the same reason, Google destroyed Yahoo, and Facebook vanquished MySpace, Bitcoin and Ethereum will destroy money.

 In the same way Amazon has brutalized physical retail, Cryptocurrency will eradicate banks. If you don’t see this coming you aren’t paying attention."

And with that, my shill is over. This post was initially 3x longer, but I trimmed it down substantially so that things are delivered in a short, sweet, package.

All the best out there people. I'll be watching you plebs from the Citadel.

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