All money is fake, crypto is not “faker” just because there is no military or economic might of a country behind it. The fact it has value at all is even an argument for it beeng more “real”.

As a leftist, who thinks there is utility to crypto currency, I often encountered the argument against crypto where it is pointed out that crypto has no tangible basis in reality, that it is all fiction. The thing is, this is correct. The other thing is, it is the case for all money ever used by humans.Currency is, in its simplest form, a mechanism to transfer the value of labor from person to person. To create a currency you only need two people, who decide that a particular thing, concept or a string of code is good enough for them to facilitate the exchange of goods and services.

Imagine my surprise when people, who are vehemently against state violence, are saying classic currencies are somehow more real, because they are supported by state violence. I think it is a great sign that there are assets out there borderless and completely untethered from the power of big nations and that they are gaining popularity. I am aware it all can turn into a anarcho-capitalist dystopia, but I remain hopeful that collectively humanity will find a better system than “might makes right”.