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Joined 4 years ago
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Cake day: March 24th, 2022

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  • I’m guessing by fiat you mean government issued currency that is not backed by precious metals but by faith and credit of the issuing government.

    They call it fiat because a government just declares how much of it there is.

    Blockchain tokens are also fiat in this sense, it’s just that the protocol makes the declaration instead of a government.

    The other notable difference is that I can buy things with USD or other government currencies. I can’t with blockchain tokens. I mean technically I can but they have to be converted first and the popular ones are mostly depictionary so you’re deeply disincentivized from using them as currency.

    The value of USD comes from people taking it in exchange for goods and services, and the US government taking it as payment for taxes. The value of a Bitcoin comes from people giving you USD for it under the assumption that they can sell it for more USD later. Like a stock, but without the incidental fractional ownership of a corporation with actual capital.

    It’s a cool concept though, and peer-to-peer digital payment is a good thing, but it cannot function as a store of value without a connection to the material world.













  • 2 points: First, considering that the majority of Israelis support what’s happening in Gaza, I’d seek affirmative evidence that they are in the minority opposition. More importantly, unfortunately, is the fact that to the degree that they are successful and make money, their taxes and economic contributions will benefit a government and system that is actively engaging in a genocide of Palestinians, and in the best of time merely oppresses them.

    It sucks to have to catch people for are individually decent in a larger boycott, if that is even the case here, but I don’t really see how to disentangle them from the larger Israeli system which, if it continues unchecked, will kill or push out every Palestinian in the West Bank and Gaza.