>>65676
>Also at least with fiat currency you have the guarantee that the state will back up it's own money
Yeah because that worked so well in Zimbabwe or is going so well in Venezuela. Even if you have oil backing up your money, if people don't trust your money because of your policies, your money won't have any value.
You must think that crypto has a limited number of coin, that compared to normal currencies it's already a lot better since goverment just print money when they need it creating a completely fake value of it through lies that could explode at any moment but doesn't explode because people still want to buy things.
The moment crypto becomes accepted by people it will have the security that every transaction is check via several servers so all movement of money is public, making sure that its value (that is, the offer and demand of that currency) is always precise with a really low margin of error.
Money at the end of the day is only the substitute of trade, if we get a system that can keep in check every single trade in the world in a precise way then its value will also be more precise that any other currency in the past. The reason why we used gold, oil or any other shit to back up money before was precisely because we couldn't keep track of the amount of money that exists and how much is traded, so goverments or groups need to put something behind to give a guarantee.
With crypto however everything is public and traceable, so you don't need any other guarantee, its price is perfect and real.
Of course, right now, because people is yet to accept crypto for normal things like food or anything, the value of crypto is really volatile. People are just using crypto as a easy way to speculate.
However the moment people start accepting crypto for everyday things, those transactions will become the very support for the money making it more stable and regulating prices to a real point finishing things like inflation.