Ridding the world of centrally planned currency isn’t shits and giggles. We’re in the midst of the largest wealth transfer in history. Trillions are being given to the wealthy while the poor see their purchasing power wither away. I’m not certain we’ll successfully escape their depraved clutches, but wasting a little electricity is worth the chance.
I still fail to see how it addresses wealth distribution issues.
Crypto currencies are just an asset as any other financial asset.
Yes it's decentralised but the only thing it seems to have proved so far is that centralisation might not be an issue in the first place.
Since crypto currencies are more of a financial asset than a currency, it's also highly dependent on actual currencies in the end.
Because the powerful people with more crypto than you can't magically issue infinite more crypto and give it to themselves, devaluing the crypto in your wallet.
Classification as an asset is part of the state fighting against crypto currency. It's a non sequitor. If the dollar was deflationary more people would be holding onto it as an asset. But the dollar is intentionally manipulated/inflated so that it's a liability to hold it, therefore people trade it for other asset classes.
The difference is that the powerful people with a lot of crypto can't unilaterally decide to issue themselves trillions more bitcoins which devalues the few coins held by the poor. Yet this is exactly what happens with the dollar.
