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21 sats \ 1 reply \ @TwoLargePizzas 20 Jun 2023 \ on: Crypto is NOT money, bitcoiners: a short rant bitcoin
I think you hit the nail on the head when you said
I think we can all agree that crypto is a thing that exists. It's a bit silly to pretend it doesn't. For better or worse it's probably going to continue to exist in some form or another for the foreseeable future.
That said, I'm not at all concerned with it competing with Bitcoin. It's pretty clear Bitcoin has already won the money game. Nothing else even comes close.
What I don't know is if any of them will be relevant in any meaningful way for other purposes. I don't really care to speculate.
For the record, I don't own any crypto. But I do try to observe the world and make sense of what's happening in it, good or bad and try to understand why it does / can happen that way.
As long as fiat is around, crypto will continue creating problems to solve to try and maintain its relevance.
I also find that having a solid understanding of the crypto space can conversely enhance your understanding of bitcoin and money in general. Once I understood what doesn't work, I'm able to appreciate what does work, and also have another framework to view things like the US dollar. From a "crypto tokenomics" perspective, you can obviously see how awful the US dollar is at serving the role of money.
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