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I read @prashanthc's post why money fails, and it made me think.
Is it money that fails, or is it humans who abuse money?
Money fails because it is used by humans. It’s not money itself that fails, but humans make it fail by using it in the wrong way.
Fiat money, in its current form, gives humans the opportunity to abuse it—to print it without reason, devalue it, and so on. At the end of the day, it is humans who make money fail.
The value of Bitcoin lies in the fact that humans can't abuse with it, can't "print" it, and can't reproduce it arbitrarily. It's scarcity that gives Bitcoin its value, it's scarcity that protects Bitcoin from humans, and it's the fact that humans can't alter Bitcoin.
This is the big difference between fiat money and Bitcoin. This is also the difference between Bitcoin and other shitcoins.
In other words, the problem is not fiat money itself, but humans who abuse fiat money, or, to put it differently, the problem is the vulnerability of fiat money and other shitcoins to be abused by humans.
OK go back to fiat and be a "good fiater"...
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Darth, darth, darth… your ability to understand is disappointing…
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Fiat money, in its current form, gives humans the opportunity to abuse it
This logic is absolutely idiotic. It shows that you don't even know what does it mean "fiat money".
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Darth, darth, darth… The all-knowing Darth… We bow in reverence to your greatness!
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0 sats \ 1 reply \ @ama 8 Jan
Money (fiat) fails for almost everybody because the other few (for whom it works well) corrupted it.
Actual money (BTC) doesn't fail because it works the same for everyone.
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Yes. You understood my point.
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