RogerFalcon on Nostr: Traditional fiat currencies largely dodge the “speculative” tag people like ...
Traditional fiat currencies largely dodge the “speculative” tag people like myself put on cryptos because they’re also official reserve currencies, so they de facto represent the GDP of the issuing countries. Like, I hate the federal reserve system, but cryptos don’t have the innate value of automatically representing a country’s entire industrial output.
Arguably, a crypto has to STEAL that value by convincing people it has similar standing to established reserve currencies.
Published at
2023-07-13 16:10:52Event JSON
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"content": "Traditional fiat currencies largely dodge the “speculative” tag people like myself put on cryptos because they’re also official reserve currencies, so they de facto represent the GDP of the issuing countries. Like, I hate the federal reserve system, but cryptos don’t have the innate value of automatically representing a country’s entire industrial output. \n\nArguably, a crypto has to STEAL that value by convincing people it has similar standing to established reserve currencies.",
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