Ask HN: Was commoditizing crypto a central government scam to fight inflation?

Most true believers in crypto preach that it is the answer to government controlled fiat currencies. Fiat currency continue to lose value as central banks continue to print more of it.

I understand this reasoning but what concerns me is that crypto is diluting the commodity pool and in effect boosting the value of fiat. All that is required is for the central banks to declare the newest NFT or Crypto flavor a commodity and the fiat will flood into it and create support for the government backed fiat currency.

If there was no crypto how much more fiat would be in circulation already?

What is more concerning is that what seems to be a virtue of crypto in not having government backing, seems like a perfect opportunity for world central banks and governments to collude to manipulate crypto value without consequence by crashing the market through regulatory action and effectively dissolve a large amount of the fiat pool.

I doubt that the majority of public will blame governments for destroying an anti government construct, no matter how loud the anarchist voices get .