Honestly curious, what about the ideology behind crypto is not okay? Apart from the high power usage of PoW, which is an unfortunate side-effect, not really part of the ideology.
At current valuations (Shiller PEs ~40), stocks are disconnected from their income. Therefore, if the Fed tapers harder or even reduces the money supply, it will crash. This leads to a "Ponzi" musical chairs aspect where investors getting in last will have bailed out the ones before them.
> Real estate obviously
Valuations are still heavily influenced by monetary policy, but also by intrinsic scarcity. As space runs out around desirable areas, the ways to acquire are increasingly limited to buying from an existing owner.
But for the average retail investor owning stocks is the same Ponzi, no?
If I buy Apple stock, I have a piece of a company that rakes in billions in actual profit by turning raw materials into useful machinery.
If I buy a US bond, I get interest, and it is guaranteed by the full faith and credit of the United States.
If I buy gold, I own a physically rare and hard to counterfeit asset that humans have valued for thousands of years.
If I have a savings account, I get interest, and the money is guaranteed by the FDIC.
Even dollar bills under the mattress don't decrease in value by 10% in a single day.
Humans, and by extension governments cannot be trusted with the money supply. It is just human nature. I don’t think control of issuance of currency is even a matter of democracy — for it is not the people that elect the chair of the central banks, the imf, the bis. People have no say in the monetary policy, it is thrust upon them by the unelected. If the individual could have a choice, would any democratic candidate be bound to follow their wishes? So, instead, we bypass this. Step outside the system where it cannot be corrupted.
You trust humans and governments too much. I trust math. Math won’t let you down like humans will.
I have developed educational materials for folks and played with this technology a long time. I will admit I don’t grok every line of the science experiment geth (ethereum client), but I do understand the math, it is the same as Bitcoin. I haven’t been keeping up with Eth client nearly as much as BTC. Running an eth full node needs some real hardware. BTC runs on a potato.
Yes, empires have historically debased their currencies during a decline. Blaming the decline on debasing the currency rather than the other way around is an argument one could mount, but the evidence either way is scant.
As far as elected governments hiring civil servants being anti-democratic goes, must every candidate for every role be voted on? At what point can the people vote for someone and delegate authority to them?
The IMF was created by elected officials and exists with their support.
You have the same say in that as all other voters; you just don’t like being outvoted and have elected to claim the rules are unfair instead.
Freedom and democracy is taken, not given. If you ever stop fighting, the government will become complacent and leech away a large part of an economy.