- Joined
- Dec 28, 2014
Not really. Only the amount the government gives it. If the Fed goes apeshit too much even the dollar turns into utter garbage overnight.Other than the point on #778, with fiat at the VERY least your money has some form of secured value. 100 USD is not gonna equal 1 RMB anytime soon. With crypto you don't. That 1M per 1 coin can become under 5 cents worth of USD in a day.
The reason it's so prevalent in scams is the nonrepudiability. With fiat other than paper cash, there's almost always a mechanism of reversing fraudulent transactions. With crypto there isn't. Hence, people who want to receive transactions profiting from frauds love it, and the suckers can't get it back.
Crypto has value precisely because once you receive it, you have it. That doesn't mean you're guaranteed any price above market value, which also makes it good for pump and dump.
The most broadly adopted coins like BTC are more or less immune to this in the long term. The short term may be more cruel.