It's not trust
It's the power of the central government to enforce usage of the "legal tender"
This is a key misunderstanding in the bitcoin world
It's not trust
It's the power of the central government to enforce usage of the "legal tender"
This is a key misunderstanding in the bitcoin world
Absolutely... Currency is by definition permissioned , censored and without consent . It has its own role to play to allow price stability credit and risk taking .
Btc is an asset. The best asset to date .
Comparing btc with currencies is incorrect . They are like two wheels of economics system. Just like bad assets ( eg securities) , there are good or bad currencies ..
If we hypothetically removed currencies from the economic system, the price of commodities would soon fall to ~zero. You don't want people to fight for wheat (bread) cuz in assets only world , only scarce desirable things get some return.
In addition, positioning btc against currencies is bad placement. No one wants to fight governments all over the world . Btc network is too precious to sacrifice in unnecessary debates ..