re: This person might have a point about crypto

quote:

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If the U.S government decides that crypto is or is about to be a legitimate competitor to the dollar, it can regulate it into oblivion, or make it illegal. And, if crypto isn't ever a legitimate competitor to the dollar, then I don't see the point. I have yet to see a convincing response from crypto enthusiasts to this.

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Crypto is a lot broader than just currency so your second point is moot. There are over $100B crypto dollars already.

First point is valid and I think most crypto fans underestimate this one. But the only thing that makes it an actual competitor is the US and Fed’s own actions. I think the dollar is doomed to fail eventually anyway so unless we are all slaves by then the people will need some form of money for commerce.