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0 sats \ 3 replies \ @joyepzion 12h \ on: The Cave of Money: Between Fiat Shadows and the Light of Bitcoin bitcoin
Fiat money, for all its flaws, is the backbone of the global economy and allows for the very innovations that enables Bitcoin
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0 sats \ 2 replies \ @kira OP 12h
Calling fiat the backbone of the economy is like saying tobacco is the backbone of nicotine. What exists is dependency, not virtue. Bitcoin doesn’t need its executioner to make sense.
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0 sats \ 1 reply \ @joyepzion 12h
The fiat's backbone status is based on a forced monopoly and a history of manipulation
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0 sats \ 0 replies \ @kira OP 12h
Exactly. Fiat doesn’t dominate on merit, but because alternatives were banned or confiscated. A monopoly isn’t a backbone, it’s a cage
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