The Republicans and Donald Trump seem set on establishing a strategic crypto reserve. They are claiming this will somehow be an important source of economic security for the country. It’s clear that establishing the reserve will be an important way to give tens of billions of dollars to Donald Trump’s campaign contributors, but it is much harder to see how it will provide any economic security to the country.
This is true of every currency. Even precious metals are only precious because we think they are.
Not arguing pro crypto here, more like, anti capitalism, with crypto only being the next generation of a thing that only has a value because some ppl have decided that it does.
Well with other currencies you sort of have a nation state behind it, backing its value. Failing that, that nations armed services :-)
What does that mean? What service do you get from the “armed services”? If someone doesn’t pay you, then the army will attack them?
TBH it’s somewhat amazing how people cite violence as a feature. International imperialism is a primary reason why state currencies are terrible for humanity and the planet.
precious metals have an innate value that while by no means in line with their market value is still value. crypto does not. Fiat currency has value in laws that require its use and in taxation.