I still fail to see how it addresses wealth distribution issues.
Crypto currencies are just an asset as any other financial asset.
Yes it's decentralised but the only thing it seems to have proved so far is that centralisation might not be an issue in the first place.
Since crypto currencies are more of a financial asset than a currency, it's also highly dependent on actual currencies in the end.
Because the powerful people with more crypto than you can't magically issue infinite more crypto and give it to themselves, devaluing the crypto in your wallet.
Classification as an asset is part of the state fighting against crypto currency. It's a non sequitor. If the dollar was deflationary more people would be holding onto it as an asset. But the dollar is intentionally manipulated/inflated so that it's a liability to hold it, therefore people trade it for other asset classes.
boudin|4 years ago
Consultant32452|4 years ago
Classification as an asset is part of the state fighting against crypto currency. It's a non sequitor. If the dollar was deflationary more people would be holding onto it as an asset. But the dollar is intentionally manipulated/inflated so that it's a liability to hold it, therefore people trade it for other asset classes.