If from my words you believe I have religious faith in government, you are completely missing my point. I don’t think you’re really listening to me.
Let me be crystal clear here: fiat currency supported by a government and its military is not a stable and sound form of money. However. It’s way ahead of a currency like crypto that is founded on and supported by nothing but faith. That is, faith and the concept of the greater full theory. On a scale of 1 to 10 in security of the money type, I put fiat currency at a 2 and cryptocurrency to 0 or 1. Faith can disappear overnight. And the only power faith has in the real world is the ability of those with faith to become violent when their currency is threatened. I consider that to be a paper tiger. Or, another way to look at it, is that if that ever does happen that will be the least of our problems.
If the government outlaws Bitcoin, BlackRock, Fidelity, Charles Scwab, Citadel Securities, etc. will be very upset.
There’s plenty of evidence that shows that the bitcoin ecosystem is largely fullproof when it comes to the weaknesses of fiat currency.
If it were faith, bitcoin detractors would be able to come up with coherent criticisms.
But they can’t.
All they can do is spout the same canards that have been repeated endlessly over the last seven or eight years, like “Greater Fool”, “Tulips”, “no inherent value”, and “Ponzi”.
Give me one example of a bitcoin criticism that doesn’t involve cutting and pasting catchphrases from someone else. What’s a criticism that you can come up with on your own?