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Comment by kemonocode | Hacker News Reader

Truly, as you say, "in a well functioning democratic society", which is not the case for a not so insignificant proportion of the world.

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I have no problem understanding why people in failed states might want these cryptocurrencies. They're essentially more convenient (but also more volatile) means of barter.

But let's face it: most of the hype is in well-functioning democracies. Here, I cannot fathom why anyone would wanna replace fiat currencies with this crap.

In the case of a supply capped crypto, to not get burned by asset inflation.

Of all the years in which you could make this argument, this year is probably the worst.

In the "well functioning democracy" U.S. You have:

- Mistrust in institutions

- An insane asset inflation bubble fueled by the biggest fiat printing spree ever

Sure, the state hasn't failed. But are you really surprised people want to expose themselves to a new paradigm with different fundamentals for money and finance, this year?

And if the US fails, don't you have quite a lot bigger problems than the currency over there?

Good luck paying for things with cryptocurrency-of-the-day without electricity. Or without authorities to call if your trading partner pulls a gun on you. But I'm sure the American solution is a diesel generator and an even bigger gun ;-)

Because despite it being very bad for the poor and middle classes, money printing is at an all-time high. Just like how neither US party is anti-war (but claims to be), neither wish to give up QE. The system is rigged for the super rich.

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