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1. Owl! 🦉 (lonelyowl13@annihilation.social)'s status on Sunday, 07-Apr-2024 04:19:53 JST Owl! 🦉
   I'm beginning to suspect that many normies don't like cryptocoins primarily not because of their real problems, like as scammers, high volatility, shitcoins, the complexity of the concept itself, and so on.
   They, in fact, fundamentally don't understand what is the money and how the free market does what it does. They think that cryptocoins are "backed by nothing", which is kinda true (everything is backed by nothing but demand, after all). But they also believe that "normal" government fiat money works differently and is actually backed by something "real" and not just the belief of market participants that $1 is worth $1.
   • reeeeeelman (realman543@annihilation.social)'s status on Sunday, 07-Apr-2024 04:19:52 JST reeeeeelman

     in reply to
     @lonelyowl13 TBF there are some things that are backed by objective needs. AKA Food, water, ammunition. These will always be in demand so long as people still get hungry, thirsty and angry.
     † top dog :pedomustdie: likes this.
   • † top dog :pedomustdie: (dcc@annihilation.social)'s status on Sunday, 07-Apr-2024 04:21:56 JST † top dog :pedomustdie:

     in reply to
     @lonelyowl13 You forgot to mention crypto is a only online affair, there is no cash (thats a real bad problem).