Cryptocurrencies

[OngBonga]

People who are into crypto still cite the value of their crypto in irl monies

Indeed. Fiat is definitely still king. I want to buy a house. I can't buy a house with crypto, I have to convert it into fiat first. But the real thing of value for me isn't the crypto or the money, it's the house.

I strongly believe that soon we will be able to buy a house with crypto. At that point, I don't even need to think about the dollar value of my crypto.

[MadMojoMonkey]

Indeed. Fiat is definitely still king. I want to buy a house. I can't buy a house with crypto, I have to convert it into fiat first. But the real thing of value for me isn't the crypto or the money, it's the house.

I strongly believe that soon we will be able to buy a house with crypto. At that point, I don't even need to think about the dollar value of my crypto.

That makes sense. Thanks.

[Poopadoop]

That makes sense. Thanks.

It doesn't really. Fiat has a relative stable value, crypto is all over the place. Do you really want to agree to sell your house for 10k crypto when by the time the sale goes through the value of the crypto is 10% what it was when you agreed the sale a month ago? Don't think so.

Maybe the day will come when crypto will replace fiat as a currency, but it seems unlikely. First, there's hundreds of cryptos out there, so which one are we going to use? Second, who decides that? Third, who's going to tell governments they can no longer generate revenue by printing money, the crypto illuminati squad? Finally, crypto will have to be a lot more stable in value than it is now, otherwise there would be complete economic chaos.

[Keith]

It doesn't really. Fiat has a relative stable value, crypto is all over the place.

so you argue that fiat currencies are stable

Third, who's going to tell governments they can no longer generate revenue by printing money, the crypto illuminati squad?

And then argue that governments have to be allowed to continue printing more fiat and devalue the buying power of the fiat currency and thereby say that fiat currencies are unstable.

[Poopadoop]

so you argue that fiat currencies are stable

Relative to the vast majority of cryptos, yes.

And then argue that governments have to be allowed to continue printing more fiat and devalue the buying power of the fiat currency and thereby say that fiat currencies are unstable.

Well first, I didn't say the governments HAVE to be allowed to do anything. The gist of the question is, who is going to tell them not to? I noticed you didn't try to answer the actual question I posed.

Second, most governments are not printing fiat in an out of control fashion are they? And if they do they face hyperinflation so they are just screwing themselves and their own citizens. There's a reason why no-one is trying to repeat the little trick the Weimar Republic played with printing money to pay off its war debts.