Economists and other enthusiasts keep making irrational comparisons of Bitcoin to Fiat or gold.

Comparing cryptocurrencies to money makes no sense whatsoever. Cryptocurrencies are *not* currencies, they are assets.

They're a new asset class. They're analogous to stocks, bonds, mortgages, etc.

They do NOT exist for its own sake. They are the engine that enables decentralized applications to exist.

I expanded more about this irrationality here:

There's also a huge misconception about money itself and its history. What makes fiat impossible to compete against in a *mixed economy* is tax being demanded in the nation's native fiat currency.

Tax is how a government maintains a coercive monopoly on a currency. This is what makes it impossible to penetrate this arena.

I explained more about this irrationality here:

This isn't capitalism. It is the very departure from laissez-faire capitalism that enabled this.

We've never had a truly capitalistic economy. The closest we've gotten was during the industrial revolution in America, and the quality of life was superb.

Government controls and special privileges started to become more prevalent after that, and THATS when everything started to collapse.

More government regulation or privileges are NOT the solution. The solution is laissez-faire...i.e a complete separation of state and economics.

Capitalism always gets the blame for things that have nothing to do with capitalism, and everything to do with government regulation or privileges. The latter is quite literally the OPPOSITE of capitalism.

Timal Peramune

Timal Peramune

A human obsessed with reading, thinking, observing, doing research, and experimenting