this post was submitted on 13 Jul 2023
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[โ€“] fubo@lemmy.world 3 points 1 year ago* (last edited 1 year ago) (1 children)

Cryptocurrency is basically like digital cash.

Cash doesn't leave you holding worthless numbers when the founders cut and run.

Well, it does in some economies, but not the ones that cryptocurrency advocates actually choose to live in. If you live in Menlo Park or Toronto or Phoenix or Dublin, you live in conditions that would not be possible without a stable "real money" economy.

[โ€“] democracy1984@lemmy.world 2 points 1 year ago

This is exactly the same thing as cash. If you buy a major currency, like usd, euro, bitcoin, ethereum, etc, then it will be much more stable than some random currency. Would you trust a cash currency that was created by some random dude in an alleyway?