Quote from: oHnK on Today at 01:24:04 AM

Quote from: fulcare on August 08, 2021, 06:35:16 PM

That is a one-sided point of view in my opinion. Yes the cryptocurrency space shows that people desire for something that is different from what they are used to, which is first and foremost something that does not support quantitative easing and also raises capital mobility on the individual level, but we shouldn't forget that we are also all better off if we do indeed have some tools in place to get fraud under control as much as possible without sacrificing freedom at the individual level. I know that is a dilemma and it can never really be fully controlled for, but it is in our best interest to find the sweet spot. Crypto has its own set of problems that needs to be addressed.

The financial crisis does not always bring positive changes, for example in my country. The crisis in 1997 has saddened us to this day, the exchange rate of the Rupiah which was stable against the Dollar is now very low when compared to the Dollar. The hereditary state debt has become the biggest burden to date. However, currently crypto does not provide the alleged crisis potential because crypto does not use a qe policy. Everything is left to the market and if banks adopt crypto then people will realize that there is no need for a central bank anymore. Because the whole economic system is rotten today is the central bank everywhere. They are regulators as well as creators of chaos in the economy.

We will never have a sound financial system, we can only thrive for a system that is less rotten than the last one. That is similar to what Musk said: Whether Bitcoin is the perfect solution that we are looking for to become a global currency. He answered no, Bitcoin is just less bad than fiat. I think I see some truth in that. Bitcoin will also be far from perfect because there is no perfection. Whenever it is about money, you will see powerful actors try to get control over it. This time it is just much more difficult as Bitcoin is way more resilient to power-drive attacks due to its decentralized nature and its incentive system.