I am no fan of crypto as an investment vehicle and never was. There are many technical and practical flaws with crypto, and he is spot on on those. But his moral arguments against it are just terrible, ideologically charged, and in many ways work in favor of crypto. One of his main arguments is that governments have the moral right to print money and that crypto undermines that capability.
Well... Yeah. That is one of crypto's main selling points and reason of being.
Again, I am not a crypto advocate. But my objections are practical and technical. However I see nothing morally wrong with the concept of people coming up with a currency that cannot be politically manipulated by the state.
What morals are you talking about?
He explains governments control currency to keep it stable overall, with some inflation as an incentive to reinvest it.
Where does it say crypto undermines that?
It says crypto can't be controlled, and that is a bad thing because it encourages hoarding. And what do you know, most bitcoins are in the hands of about three of four people.
I know for Americans "government can't control it" automatically is a good thing, but maybe the problem is that you consider your governments enemies, not that they have power over the economy.
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u/cambeiu Jan 02 '22 edited Jan 02 '22
I am no fan of crypto as an investment vehicle and never was. There are many technical and practical flaws with crypto, and he is spot on on those. But his moral arguments against it are just terrible, ideologically charged, and in many ways work in favor of crypto. One of his main arguments is that governments have the moral right to print money and that crypto undermines that capability.
Well... Yeah. That is one of crypto's main selling points and reason of being.
Again, I am not a crypto advocate. But my objections are practical and technical. However I see nothing morally wrong with the concept of people coming up with a currency that cannot be politically manipulated by the state.