And fiat currency only enjoys that attachment because we trust it, and in that act we demonstrate our trust of its issuing government. I’m tempted to put my trust in math and science over demonstrably corrupt humans running said governments.
We trust it because its value is tied to a measurable set of metrics that reduce random volatility and can be adjusted through central bank actions. A decentralised and unregulated asset can shift value minute by minute based on news cycle. Would you like your currency as volatile as a Tesla stock?
Volatility has been, is still, an important consideration that will be reduced as it matures, and its popularity, and utility increases (hopefully). Is volatility your biggest concern?
No, volatility is a symptom of the true problem, it is a speculative asset. There is a false assumption of scarcity in its 21 million coin limit and it is just a Ponzi scheme meant to enrich the earliest bag holders.
False assumption? Are you suggesting more coins can be minted? And a follow up question, isn’t a Ponzi scheme when something pretends to be something it’s not? What’s BTC pretending to be, it has always acknowledged its value exists only in trust-and who pulls the chute on a decentralized entity?
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