this post was submitted on 04 Aug 2025
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I agree with everything you said except:
Sh!tcoins should never be validated; nothing whose value decreases long-term can be a replacement for fiat currency.
You've got it reversed. Nothing whose value increases long-term can be a good replacement for fiat currency, because then anyone with crypto will ask "should I buy this today when I know that everything will cost fewer coins next year?" and at the very best you get Japan's Lost Decades forever.
That's not to say that the average shitcoin would work better as a fiat currency than baseball cards, but they might not be doomed at the design stage -- although they probably were to bring in the initial base of speculators who now need to find a bigger fool willing to trade something immediately usable for the shitcoin.
Bitcoin is a shitcoin. It's like spruiking a model T as the peak of automotive engineering. Lightning is shit. The BTC dev team is shit. It's at the top of a pyramid scheme fuelled by the hopes and dreams of shills.
Monero is the closest I've seen to date that could legitimately replace cash (being actually private and fungible). You can tell because it's banned in many western markets.