It's a very bad quote by someone who understood nothing about currency.
A currency is literally 'trust' - it's a social contract. it's trust in the economic system where the currency prevails.
If you don't trust it, you don't trust where it comes from.
It's impossible to have a currency that is not use widely in some economy, and it's almost impossible to not have some management of that currency. For example, if any nation officially adopted BTC as their currency, as opposed to some fiat, they would be in for a difficult ride with a complete lack of any monetary policy. Nations that use the USD are actually leveraging the value of the US system. In general, the US system has more credibility than their own, so it's a benefit, and they are generally small.
As a store of value it's monopoly money.
The 'allure of not having to trust' people is a total myth, for any currency, even the hardest ones back by gold, land etc..
A currency is literally 'trust' - it's a social contract. it's trust in the economic system where the currency prevails.
If you don't trust it, you don't trust where it comes from.
It's impossible to have a currency that is not use widely in some economy, and it's almost impossible to not have some management of that currency. For example, if any nation officially adopted BTC as their currency, as opposed to some fiat, they would be in for a difficult ride with a complete lack of any monetary policy. Nations that use the USD are actually leveraging the value of the US system. In general, the US system has more credibility than their own, so it's a benefit, and they are generally small.
As a store of value it's monopoly money.
The 'allure of not having to trust' people is a total myth, for any currency, even the hardest ones back by gold, land etc..