Decentralized Money? Not Really

[BobK71]

The history of gold shows that, while money itself can be decentralized, if the central authorities own a lot of it, they can use it to artificially prop up the assets they issue, and so power is *not* decentralized.

Then we're back to the same fundamental problems that lead to crony capitalism, boom and bust, inequality, pollution, empire-building, war and terrorism.  All are driven by the elites' issuance of 'money', whether they call it IOU payable in decentralized money, or 'real' fiat money.  When they run out of decentralized money to pay their IOUs, they will default on them, and have their economists bad-mouth the decentralized money (but *only* after they have defaulted.)

BTW, it doesn't matter if we don't have an official 'Bitcion standard.'  If the elites 'manage' their exchange rates against a basket of cryptocurrencies, officially or unofficially, it works like a Bitcoin standard.

To be fair, a system based on decentralized money is probably more stable and free-market oriented than on fiat money.  We should never forget they are really the same thing underneath.  The world will be run by the state-bank alliance, in whatever form they can get away with, until the people wake up.