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Fiat doesn't work on a finite planet. Crypto has failed on its goals. What is a better way to be economically secure? (infosec.pub)

submitted 4 months ago by [email protected] to c/[email protected]

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Assuming the title to be accurate, what is a good way for the working class (90%+ of all humans) to save and succeed in this current environment?

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[–] [email protected] 62 points 4 months ago (2 children)

Fiat doesn’t work on a finite planet.

Citations needed.

[–] [email protected] 3 points 4 months ago (3 children)

I’m unsure of what a finite planet is referencing? Is op suggesting that economic limits are constrained to finite resources? This doesn’t take into account renewables, human creativity and a whole list of other things. If we create a matrix like environment where the limits can be expanded and create new products in that new environment we can still use fiat.

[–] [email protected] 9 points 4 months ago

I don’t know why they’re conflating infinite money with finite resources. The two have no relationship to each other.

[–] [email protected] 3 points 4 months ago

I think we need more restrictions on finances, so our human creativity can effect. What I see is that most advanced civilizations' largest export is literal trash due to excess and waste, so I figured why not have a discussion about it

Also, every fiat currency has failed in the two ways it can: hyperinflation or clout loss due to no trust in the issuing party (which tends to lead to hyperinflation). Innovation has stalled or at least hit the top of the S curve over the last 50 years, with mostly remixes of old ideas that tend to expedite the finite resources we have, so I don't think technology will outpace inflation

[–] [email protected] 2 points 4 months ago

Technically, Planet Earth is huge for us because we cannot use it efficiently or in a reasonable time, and we don't even have to talk about the sun.

[–] [email protected] 1 points 4 months ago

Very true, I'll do some research and if I remember I'll give you some papers