But the second part of that post is noting one of the reasons people don’t like dollars and the implications that has for crypto that nobody ever seems to acknowledge. People don’t like dollars because dollars are the property of the US government, and buying and selling dollars effectively empowers the US government to pursue its policy. It can do this by printing dollars, which in the most crude way frightens libertarians because of “inflation”. In reality inflation is negligible, and the real global danger here that plays itself out again and again is the USA has the power to print dollars with mostly no consequences, so it actually CAN use the volume of dollar exchanges on world markets to basically get free money to pursue its policies. And this is entirely due to the volume, the sheer liquidity of dollars makes it so that even if you print billions in the medium to long term it is just a blip on the markets for dollars, so the exchange rate isn’t going to dump over it.
But this is technically true for any fiat currency to a degree. It might not be billions, but any currency can theoretically endure some money printing and not dump its exchange rate as long as the money printing isn’t way out of proportion to the volume of normal exchange. But if you do it a lot the effect will accumulate and you will get a fall in the exchange rate, so you need to “justify” the printing by investing in productive activity that grows demand for the currency.
The point of saying all that is, people don’t like dollars because they understand that they benefit the interests of the state that controls production of the dollars, the USA, and the implication of that isn’t that you stop states from controlling their currencies. You just make your own currency that you collectively control , ie make your own state.
Why hasn’t anyone done that before? Well they’ve actually tried to an extent, there are lots of historical micro currencies out there, but the main problem is you can’t just make a random fiat currency and expect it to have a stable price. Dollars only have stability because of how huge the volume is, there aren’t any players in the market that can manipulate the price. There are just too many dollars. So they always have to be pegged to some larger currency like the dollar to stabilize, which takes away most of their authority.
But crypto offers a possible way around this predicament I haven’t seen many contemplate. ICOs and similar things have approximated it, but for myopic personal gain. You can achieve a degree of price stability prior to peak volume by simply having a real commodity money, as I described before, but you can also have a network participant that has the power to produce Bitcoin by fiat. You can mix the two together to basically bootstrap a state into existence.