this post was submitted on 21 Feb 2024
137 points (93.6% liked)
Linux
47958 readers
1217 users here now
From Wikipedia, the free encyclopedia
Linux is a family of open source Unix-like operating systems based on the Linux kernel, an operating system kernel first released on September 17, 1991 by Linus Torvalds. Linux is typically packaged in a Linux distribution (or distro for short).
Distributions include the Linux kernel and supporting system software and libraries, many of which are provided by the GNU Project. Many Linux distributions use the word "Linux" in their name, but the Free Software Foundation uses the name GNU/Linux to emphasize the importance of GNU software, causing some controversy.
Rules
- Posts must be relevant to operating systems running the Linux kernel. GNU/Linux or otherwise.
- No misinformation
- No NSFW content
- No hate speech, bigotry, etc
Related Communities
Community icon by Alpár-Etele Méder, licensed under CC BY 3.0
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
“Bro, I’ll trade your food for this fancy piece of paper”
“What can I do with it”
“Trade it for more food with a bigger fool than you”
“I’m in”
(Not saying that you’re wrong, just your argument is stupid)
The problem with most crypto compared to regular money is that it's often seen as an investment. However, one of the most important factors for a currency that is used in everyday transactions is stability and predictability. Money is supposed to ease trading goods and services as a universal middleman. It's not supposed to make someone rich who invested first.
Of course there's also inflation and deflation with regular money but as soon as that's getting out of control, it typically leads to serious economic issues.
Not to sound like a shill or anything but that's what's great about monero. Its actually used on a daily basis as money because it wasn't designed to be an investment vessel. Unlike most crypto currencies monero is one a few if not the only crypto currency that could suffer from inflation as there is an unlimited supply however this works out in avarage uses favor as there's no scarcity based value which means there's less speculation trading leading to a more stable price. I'm not sure what the long term effects of having an unlimited supply of monero is but their justification is that it's a predictable fixed ammount added which will prevent hyper inflation.
Once again I'm not a crypto shill, I'm literally saying investing in crypto is a bad idea and to only use it for it's utility.
It's seen as an investment, yes. Those are important factors for a currency, I agree.
Is there a part where you meant to connect these dots to substantiate the first statement about it being a problem that it's seen as an investment?
Edit: I get it, you're saying it's a problem with the idea that Bitcoin should be used as a currency in everyday transactions. I don't think that's a popular use case for Bitcoin, though. I wouldn't use "digital gold" for everyday transactions, similarly to how I wouldn't use real gold. That's not really a problem with Bitcoin though, more of a misunderstanding of it
Or of course buy any other commodity that you require in life. Which isn't the case with any crypto.
That only works if you find someone who accepts your money. The difference to crypto is that most people accept money, only few accept crypto