[robroys woman]

The US dollar mostly exists as a cryptocurrency.

---

Yep. That’s why the real thing here, blockchain matters. And it can be applied to the U.S. Dollar.

What cracks me up about cryptocurrency converts is that they like to point out that the dollar is “fiat” money and not backed by anything. Well, That describes cryptocurrency nicely. It is backed solely by faith. Nothing else. Nothing.

The dollar is fiat money and like cryptocurrency, is backed by faith. But it is also backed by something else: The US government. The only way it collapses is if the government backing it also collapses. e.g. Weimer Germany, Zimbabwe and Venezuela.

If the dollar collapses and you live in the US, the collapse of the currency will be the least of your problems. Cryptocurrency can collapse without really having any direct effect on those that don’t have any.

[E. Pluribus Unum]

So the US feral government should have no competition because?

[Vermont Lt]

You mean like how the dollar shit the bed this morning?

[palmer]

It is backed solely by faith. Nothing else.

Not correct. CCs are backed by the algorithms. There's now a multibillion dollar bug bounty on those algorithms that has yet to be claimed.

[bkopto]

But it is also backed by something else: The US government.

Well, putting your faith in fedzilla be good enough for you, but for many others, not so much.