July
@july
Why do some non-crypto folks hate crypto so much? An idea I've been thinking about: Martin Luther circa 1500s come to mind w.r.t. Christianity, specifically Catholicism. We've all been lead to believe that money can only be created and ordained by the Nation State, but in fact, there is perhaps another possibility.
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mark mollé
@marmo
Disintermediation from the state is broadly appealing. Now, philosophically, it could seem like that fear is driving the hatred of crypto. I like the arg, but believe the hatred stems from its complexity, difficulty, and the inherent suspicion of all financial innovation, which, tbt, has not been equitably beneficial.
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July
@july
farcaster://casts/0x6f1b2fd8932745486529e2ae7aa1bcbaac570b4f98d52dd0b664cf5b626169f2/0x30d89c2af60de4c16e57343a536bb147220228b06eeb34c087e8e57d97c6a6f5 Per this thread, the argument is not just fear driving the hatred of crypto, but also the the threat of destruction of our identity tied to fiat that’s driving hatre
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July
@july
Sry meant this cast: farcaster://casts/0x134f363421b09c42596846b522d309520d39b054aff969fed0ab8f5f18edcd99/0x30d89c2af60de4c16e57343a536bb147220228b06eeb34c087e8e57d97c6a6f5
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mark mollé
@marmo
This argument relies on two assumptions. First, that the belief in money is not a general belief in value and tied to state-issued money. That's not necessarily true. People believe in valuable commodities, like gold, which are not issued by the sate, as much, if not more, than money. People believe monetary value.
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July
@july
Agreed - ppl believe in valuable commodities + monetary value - in order to trade in those commodities and everything else with value, we collectively need a global reserve currency to assign value with. that's where state issue currency comes in. belief in a reserve currency is belief in that system it perpetuates
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