Quote:
Originally Posted by Trolly McTrollson
Libertarians switching from gold enthusiasm to Bitcoin enthusiasm is always entertaining.
Quite.
LTers are in the full glory of their idiocy on this one. Let's see... they love whining about the alleged evils of 'fiat' money, but bc is just as 'fiat' as USD. They say shiz like this: bc is good because it can't be used as debt... but then they imagine a whole economy, including I assume the home mortgage and consumer loan parts of this economy, switching over to bc. How's that going to work? Or how about this... how is civil court going to work without a single & viable legal tender?
Where they really go of the rails is here however:
There's nothing intrinsic about LT-monetary-voodoo-economics to cryptocurrencies. Just like there's nothing intrinsic about selling chicken sandwiches not on Sundays. The reason why bc has LT-voodoo-gibberish hardwired in, and Chick-fil-et isn't open one day a week, is exactly the same... that particular creator creature was high on his own respective supply.
LTers imagine two separate things will happen at the same time (a) peeps will decide to dump hamburgers (BofA, etc) and switch overwhelmingly to chicken sandwiches (bc, etc), and (b) they'll all start getting high on that very same supply (being
happy that they can't get their fast food fix one day a week, being
happy about being subjected to LT-voodoo-gibberish).
The first (a) is unlikely. MasterPass augments cash. A successful non-voodoo cryptocurrency would likewise augment both cash & our existing banks/etc.
The second (b) is... just simply loltastical.