Quote from: iamTom123 on October 31, 2017, 04:23:36 PM

Quote from: Lord of the Lies on October 21, 2017, 04:27:06 PM

states have proven time and time again how they manage to screw up money i'm skeptical that any system where the state has control wouldn't be subverted like always most economists or financiers would include "a store of value" in the definition of "money", but no fiat today is a store of value as its value is eroded by inflation until that is addressed, money isn't money anymore also, Pierre-Joseph Proudhon is a nutter

Generally speaking, governments are not good stewards of natural and human-made resources and that includes the national currency or any other type of currency created by the government. Since time immemorial, this has had been a big problem plaguing many states. People in power has the tendency to procure waste and could not deliver more value than what can be spent with. No wonder that economic tumult can be happening because of the built-up pressure (akin to a volcano about to erupt). This is the reason in fact why we have cryptocurrency as represented by Bitcoin and its underlying blockchain technology...to return the power to the people and regain back the trust always wasted by those in power and the whole of the bureaucracy.

Not only that as all government will have corrupt officials that will either take money from the people or will make a worthless thing to have a value. That is why many government are afraid of the blockchain technology are they cannot manipulate it so easily, but just remember that even if its hard to manipulate these people will adapt and still take money from the people.