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Fiat doesn't work on a finite planet. Crypto has failed on its goals. What is a better way to be economically secure? (infosec.pub)

submitted 4 months ago by [email protected] to c/[email protected]

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Assuming the title to be accurate, what is a good way for the working class (90%+ of all humans) to save and succeed in this current environment?

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[–] nickhammes 2 points 4 months ago

It's a question of the most stable thing to use to mediate value for exchange of goods and services, right? Fiat currency is just the choice of "the state" as a stabilizing force. Certainly it's better than trusting the scarcity of rare metals, but eventually "just trust the state" will become a problem, and we'll need to think about rebasing currencies. In theory, computational complexity isn't a bad choice, but nobody has come up with a solution that actually functions well as a currency.

But I agree, the finite planet has nothing to do with any failings of fiat currencies, and only makes sense as a failing of the "number must go up" mentality endemic to capitalism.