Mmastodon BusinessCrypto first seen 17 h ago, last 15 h ago, peak #4

Crypto's claim to beat fiat money called a lie

Original: And yet side by side with this fantastical wish-fulfillment side of the "Blockchain Revolution" is the paradoxical asser

A commentary on the blockchain debate argues that alongside its utopian promises, the crypto movement makes a paradoxical claim: that cryptocurrency is intrinsically valuable while government-backed fiat money is not. The writer calls this claim a lie, arguing crypto is no more inherently valuable than the currencies it claims to replace, and that wishful thinking dominates the space.

Why now: Ongoing debate over crypto's fundamental value compared with fiat currency keeps resurfacing online

cryptocurrencyfiat moneyblockchain

Open on mastodon →

Evidence

• And yet side by side with this fantastical wish-fulfillment side of the "Blockchain Revolution" is the paradoxical assertion that # crypto somehow is intrinsically valuable in a way that "fiat money", i.e. currency backed by a government, isn't. It's a lie: crypto is just as… · mxchara@cyberpunk.lol

API: https://socialmediatrends-api.osmike.com/v1/trends/420108