Quote from: clout on September 23, 2014, 12:28:40 AM

Quote from: taltamir on September 22, 2014, 07:19:04 AM

While we are clearly rushing towards a fiat currency crisis. I have my doubts that it would be crypto that would replace it, rather than precious metals.

People arent going to go to the store with gold and silver. Metals are a terrible medium of exchange which is why throughout history they are typically not used as the primary currency. Currencies should be a claim on asset and not the asset itself. Thus I can see a digital version of the gold and silver being the primary mediums of exchange. If I have a crypto currency that maintains the purchasing power of gold and entitles me to interests on my initial capital then I would certainly use that over the physical asset.

We went over this already clout, you keep on using this same strawman despite it being pointed out as a strawman before.
Fiat = "because I said so" money
Fiat =! only form of paper cash (you can have paper cash that isn't fiat)
Fiat =! paper cash only (also coin and digital)
Crypto =! only form of digital money possible (can also be fiat, gold backed, etc)

Also, if there is a currency collapse where people are no longer using government issued legal tender, then the "convenience" of digital currency is not going to be a deciding factor

also

Quote

Metals are a terrible medium of exchange which is why throughout history they are typically not used as the primary currency.

Hilariously wrong