I agree that crypto is money that is being produced from virtual space. But it is at least required some type of work to prove that currency. For fiat, you don't need anything but printing machine and agreement that it is worth something. And that being said crypto is decentralized while fiat is central.
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yes, via the nsa:
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
well i did not exclude the possibility that some powefull bankers might "stay" behind whole crypto project, but still it does not change a fact that crypto has better and more relevant backup than fiat.
no it's not, they're both bogus.
a sound money system is where i can take whatever token is issued (paper, coin, digital, whatever) to the money warehouse and exchange it for silver or gold. this is its guarantee, its backup that it is worth something universally recognised as valuable.
while we are in agreement that fiat dollars, euros, pounds, yen etc. fail this test (though they didn't use to - a 'pound sterling' used to be able to be ex changed for a pound of sterling silver at the bank of england, and there used to be gold and silver dollar certificates as well,) it is also true that all current cryptocurrencies also fail this vital test. they are backed up by nothing but trust + belief, making them inherently worthless.
that won't stop the rulers using them as future digital cash so they can completely control the economy and therefore mankind though.
A valid point