> This is an accurate characterization of the dollar as well.
Not in the way you're saying - it's a matter of degree. When Theranos scammed hundreds of millions, the dollar didn't drop in value, nor has that ever happened.
You seem to have unconventional definitions of "stable" and "volatile". Calling a 10% devaluation in 1 year volatile is laughable compared to crypto. For example BTC -65% in 1 month (1/6/18 to 2/6/18) or how about TerraUSD, -80% in less than 1 week, 5/9-5/14/22.
Fiat and crypto aren't even in the same galaxy when it comes to volatility.
I think one of the best cases against crypto, is just how much the volatility in Crypto is a feature not a bug. Crypto is how people will make it rich, and rising 7% in a year doesn't enable that. Imagine a world where crypto routinely beat the major indexes by a point, so bitcoin being worth now around $1500, Eth $200. They would have been one of the most fantastic investments you could have made, and still a robust currency, but how much hype would they have made?
Not in the way you're saying - it's a matter of degree. When Theranos scammed hundreds of millions, the dollar didn't drop in value, nor has that ever happened.
You seem to have unconventional definitions of "stable" and "volatile". Calling a 10% devaluation in 1 year volatile is laughable compared to crypto. For example BTC -65% in 1 month (1/6/18 to 2/6/18) or how about TerraUSD, -80% in less than 1 week, 5/9-5/14/22.
Fiat and crypto aren't even in the same galaxy when it comes to volatility.