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I know it might be difficult to lower your IQ this much but I am exposed to many liberals all the time and I swear this is the case.

When people have a low IQ, they can't grasp abstract concepts, especially when it comes to money and how it works.

They don't understand the difference between gold backed currency vs fiat. Or how increased prices are not always inflation.

They also think that bitcoin is "insert defamation label here" cause it doesn't exist. as if fiat represents something more tangible.

And that is the difference, a dollar is something they can touch, so they trust it. In order for crypto to really be adopted by the masses voluntarily, it will need to be tied to a physical something somehow. Whether thats another countries currency, a credit card type thing, or whatever. But there must be some way for someone to hand it to another person and say this has x satoshi's on it, or this is x satoshi.

I know it might be difficult to lower your IQ this much but I am exposed to many liberals all the time and I swear this is the case. When people have a low IQ, they can't grasp abstract concepts, especially when it comes to money and how it works. They don't understand the difference between gold backed currency vs fiat. Or how increased prices are not always inflation. They also think that bitcoin is "insert defamation label here" cause it doesn't exist. as if fiat represents something more tangible. And that is the difference, a dollar is something they can touch, so they trust it. In order for crypto to really be adopted by the masses voluntarily, it will need to be tied to a physical something somehow. Whether thats another countries currency, a credit card type thing, or whatever. But there must be some way for someone to hand it to another person and say this has x satoshi's on it, or this is x satoshi.

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[–] • 0 pt

Crypto is young compared to the classic fiat so it's true that people will continue to price goods & services in terms of their country's fiat currency... for now. This could change in the long term, but only if the mass population has incentive to make that shift. If the USD goes into hyperinflation there will be incentive to at least shift away from USD (but not necessarily to a crypto currency).

In the mean time, stable coins on the crypto block chains provides a reasonable bridge for the short term: funds are measured in USD and you can pay someone w/o first having to have a central bank's blessing, even if you have to momentarily convert your stable coin to some other cryptocurrency at whatever price it is at the time just to complete the payment.

Either way, crypto-technology itself has value beyond just the ability to buy & sell it in terms of a fiat price. Data storage, digital ID, and elections, all on a decentralized network are great examples of recent developments. Imagine being able to re-count the votes in an election yourself, without compromising the identity of any voter, while still confirming that your own vote was counted.

[–] • 1 pt

Either way, crypto-technology itself has value beyond just the ability to buy & sell it in terms of a fiat price.

Will you still think that way once the (((FedCoin))) replaces fiat currency?

[–] • 1 pt

yes because CBDCs can only compete with current public cryptocurrency, not replace it, and groups like WEF already admitted they're far behind the curve trying to catch up. They're banking on the idea of forcing adoption of their new digital product by criminalizing the competition.

[–] • 0 pt

>...by criminalizing the competition.

And it's going to work

It's not the technical part, that prevents most people form engaging in counterfeiting dollars

It's the "above voluntary manslaughter" part

Bitcoin can be outlawed just as gold can be confiscated, now who wants to be a criminal?