this post was submitted on 20 May 2024
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You could very well make the argument that ultimately crypto is backed by energy, which is something we all agree has value. Without energy, you can't go to work, heat or cool your house or anything like that. If you believe that electricity is fundamental for society, then by extension, crypto is backed by the most fundamental force that there is even bigger than a government.
Hard disagree here, I literally cannot access a cryptocurrency without power but I can absolutely pay cash to buy some water during a power outage.
Sure you can. There's absolutely nothing stopping somebody from putting a private key on a piece of paper and loading money onto it and spending it physically as long as the private key has not been exposed. Kind of like those Amazon scratch-off gift cards. And just to prove my point, take a look at this.
https://en.bitcoin.it/wiki/Casascius_physical_bitcoins
Yes I’m sure the 7-11 cashier would love for me to try this.
Depends on who the 7-11 cashier is. If they are really smart, they would gladly take your crypto and pay for your items with their fiat. You are not going to get big places using it first. You are going to get little places using it first. The Amazon's and 7-11's and Walmart's of the world will come later. And trust me, they will come. There's a natural tipping point apparently, where when 5% of the world population uses something, the other 95% generally soon follow, because it's more useful. Crypto has already hit that 5% mark.
Any day now bruh, trust me