So weird to consistently read
the same arguments a decade later... I have done nothing
but purchasing and selling real goods for BTC since 2012. I wonder why no one is as "passionate" in criticism of derivatives, default spreads, options, etc. as they are with cryptocurrencies? I hope at the very least they employ a fiduciary who is a non-commission,
directly compensated financial analyst? It seems to me that religious thinking isn't a monopoly for "coiners" or whatever you want to call them.
Granted I never bought
a pizza for nine figures... but I've got some furniture and other things that would have been six figures at current prices if I never used it. In a market where a search engine and online sales site are worth close to $2T
each - mostly due to globalization of information and commerce demand - is it that hard to see value in a means of securely and nearly instantly exchanging monetary units without the fees and obstacles of traditional currency/banking services? Sure the rise seems fast... but in the same time a single auto manufacturer (who was initially called a scam and a disaster of an investment) is up
a bit over 10K%.
Are there inherent problems with the crypto market? Yep. Tons of them. Does Visa/MC/Amex have something tangibly unique as a value-add beyond adoption and standardization? Not as far as I can tell. Data itself is the single greatest commodity in our world - worth far more than anything else at least as far as market capitalization is concerned.
Never going to solve all the world's problems, not likely (in current form at least) to replace traditional value exchange mechanisms... but if we never consider alternatives to "already solved" issues we'd still be conducting trade in
shells or beads.
However, I certainly hope that those that believe that the USD is the safest way of holding wealth and conducting trade
don't ever change their minds. Honestly, if central banking and the politics of debt slavery and fiat debasement provide security to you... then you don't need to investigate alternatives. I however, do not share your faith or enthusiasm for the "traditional models" (despite being forced to participate in them) and I will happily research, consider, and cautiously adopt any reasonable options I can find outside them.