1. It has no intrinsic value.
2. It is hated by those who like controlling others (socialists/post modernists). This might not seem like a flaw, bit since these people control government, it means that its users would be relentlessly prosecuted.
3. It's hard to get into. Because of no. 2 it's hardbto convert local currency to monero
We learn two things from this.
1. Money is created bottom up. People need to agree to use something as money for it to become money.
2. Bitcoin is not money.
https://reason.com/2024/10/31/a-week-of-failing-to-pay-with-bitcoin-in-el-salvador/
"Even as prosecutors privately concluded that Backpage was trying to be law-abiding and helpfu [...] Lacey and Larkin were convinced this [prosecution] stemmed from a personal vendetta by politicians their papers had criticized through the decades."
Creating censorship resistant technology is important, bit the government, with it's resources, can always hound someone down if they decide to do it.
Even more important is to VOTE for people who respect freedom of speech and privacy.
Even more important is to EDUCATE people on how important free speech is and why privacy is vital for personal independence.
https://reason.com/video/2024/10/30/how-the-feds-destroyed-backpage-com-and-its-founders/
I am pointing this out because Fiat has innate defects regardless of the issuer. Which means that Monero, and certainly centralized Bitcoin, have these defects.
Monero is not the golden bullet. Gold is not the golden bullet.
Some sort of combination would be superior to both.
Tommy Robinson is in a British prison for refusing to hand over his phones password.
He is charged under the anti terrorist law.
Building technology that protects your privacy is important. Passing laws that protect your privacy is just as important.
To do that we need to change the incentives of the law makers so that passing laws that protect our privacy is beneficial for them.
I know.
It's important to point out that this way of thinking is wrong to insure people understand that Blockchain is not a full fix for gov. issued currency. Since they are both Fiat the share a lot of defects
Actually Monero was an authoritive order. The creator of Monero (whomever that be) said "let this be the genesis block!". He did not have power to force his order to be accepted, so he used other means to make his order accepted.
Why can't Fiat be issued by random people?
It's of course easier for government to force people to accept their fiat, but that is a technical issue. There are other ways to make people accept Fiat. Religious belief, popularity of the issuer, fear of exclusion (which is kind of force).
And what is a government? If a town creates it's own currency, is it not fiat? What about if the GNOME foundation votes on a new currency?
Fiat is Money by decree. It's easier for government to create Fiat. But it's not the only way
Sure. But the root of the definition is "issued currency that is not blacked by a physical commodity".
The fact that the governing body that issues Monero is a collective of developers just make it a more democratic fiat, but fiat non the less
Please give me a ping when you think it's in a state that I can build it
Actually Fiat is Money by decree.
All the other adjectives that you added are properties of government fiat, but don't define fiat.
Monero is Fiat since it has no intrinsic value and it became money by deceleration.
All the other adjectives that you added are indeed properties of Monero, but don't make it any less Fiat.
Monero is also Fiat. Democratic and private, but still fiat
The true value of money lies in its ability to empower individuals, not governments or corporations.
It runs even deeper then that.
Money creates trust in an environment where trust is not natural.
Society runs on trust. Therefore money enables the creation of society where it's not natural for society to exist.
Still not building.
I get the error
Error[E0599]: no variant or associated item named `KeyPackage` found for enum `nostr_sdk::Kind` in the current scope
--> src/accounts.rs:206:21
|
206 | .kind(Kind::KeyPackage)
| ^^^^^^^^^^ variant or associated item not found in `Kind`
(I cloned your nostr-sdk to the right location)
I switched this line in Cargo.toml
nostr-sdk = { version = "0.35", features = ["ndb"], path = "../../rust-nostr/crates/nostr-sdk" }
To this line
nostr-sdk = { git = "https://github.com/erskingardner/rust-nostr", branch = "master" }
I still get the same error
🏦 How the Banking System Works by Mike Maloney, an eye opening, a must-watch for everyone.
Share with your loved ones.👇
https://video.nostr.build/1e460b650a422fd2736d0114d452fac79a9fabec387803c24de6517ee3476174.mp4
So what's the solution? Bitcoin/some other Blockchain? That is also Fiat. They can also be manipulated. Especially Bitcoin.
Gold? You can't do micro transactions in Gold.
Some kind of combination of gold and Bitcoin is needed
The idea is to see if I can help to bring it to a state where it is ready for use 😀
