Any sense getting into forex because the end of fiat is on the horizon?

[SunTrader]

Lol you think that taking someone's home over a utility bill is democratic? It's draconian. It's completely disproportionate. I doubt you'd be so cavalier about it if it happened to your or someone in your family.

https://wpde.com/news/nation-world/...r-occupied-home-tax-sale-investment-companies

https://www.wbaltv.com/article/family-challenging-eviction-5-year-old-water-bill-tax-sale/44843628

 

[wxytrader]

https://www.wbaltv.com/article/family-challenging-eviction-5-year-old-water-bill-tax-sale/44843628

Yeah total bs and most owners are completely unaware. It's all a load of crap and we keep putting up with it...like the new laws passed here that Airbnb can only be done from your principle residence...like wtf? Next they will make secondary home ownership illegal.

 

[wxytrader]

You'll be pleased to know that Professor Randall Wray* agrees with you and goes a bit further beyond your "not much of a currency" all the way to "not a currency at all". That's because all true currencies, including fiat, are liabilities of the issuer. (I.O.U.s in other words).

See Wray's comments here:

The best option for countries experiencing too much inflation would certainly not be to try and adopt bitcoin as the country's unit of account.
________________________
*Wray, a Minsky protege, is a well known economist. His 1998 monograph entitled "Understanding Modern Money" along with Warren Mosler's 1995 "Soft Currency Economics" are considered seminal works in what is now being referred to as Modern Money Theory.

The only people calling it a scam are just pissed that they missed the boat while the rest of us are driving around in our (2008) Lambos.

 

[steve42]

A law should be made so that private equity and corporations cannot buy individual homes

 

[smacdtrader]

I'm sure I'm not adding anything new here, but crypto lost like 80% of its value last year. Not to mention if fiat disappears, how are you going to price the crypto? Hopefully the OP is trolling.

 

[smacdtrader]

Your reply is so badly flawed that I don't know where to begin. But lets look at this point. How many countries are doing well with their own fiat? Of the strongest ones outside of USD, Yen is crashing and Yuan is also trying hard to fall. Everyone wants to run to USD as the strongest fiat, which blows a hole right in your thesis, but USD will also fail miserably.

The truth is actually the total opposite of everything you say. For easily the bottom 95f% of currencies out there, the citizens would be smart to get into anything other than their own government issued fiat.

In order to understand bitcoin, you need to understand what money is. Money is just a ledger. And the type of ledger that is decentralized and one that you cannot manipulate is the best ledger of all.

Funny thing is yall are both tragically incorrect. When will this ludicrous debate between know nothings stop!?

 

[wxytrader]

I'm sure I'm not adding anything new here, but crypto lost like 80% of its value last year. Not to mention if fiat disappears, how are you going to price the crypto? Hopefully the OP is trolling.

A toaster on amazon will cost 0.00080 Bitcoin or 80000 satoshis. It will continue to adjust...just like fiat but in reverse because it is inflation proof...so today a Bitcoin can buy a car...in a few years you could be saying it could buy a house.

 

[maxinger]

I should just focus on crypto pairs? One thing...how do crypto pairs work since everything goes up when. Bitcoin goes up and visa versa usually...do what do you pair?

Just focus on the trend; is it uptrend or downtrend or trendless?
And when you trade, make sure you have STOP in place.


Don't focus on whether it is fiat or no fiat or not fiat.
If not, you will be having sleepless nights.

When there is a trading opportunity, go grab it.

 

[SunTrader]

Fiats only go one way ... to the repair shop. lol

 

[smacdtrader]

A toaster on amazon will cost 0.00080 Bitcoin or 80000 satoshis. It will continue to adjust...just like fiat but in reverse because it is inflation proof...so today a Bitcoin can buy a car...in a few years you could be saying it could buy a house.

In your heart you must see this is just a fantasy. Shrink money supply 99%?! How would that even happen, and why would you want it to? The USD is not ceasing to exist anytime soon. More realistically the Fed is going to incorporate the technological advances introduced by crypto into USD and make it more powerful. Just because vendors will take crypto, doesn't mean the end of fiat. It's a straw man argument to say its either crypto or fiat! Neither are going anywhere, and crypto isn't money for most people and never will be. If the USD disappears, then the US is no longer a country, and yes I get that things change, and do I know what the world will be like in 50 years, no. But I'm confident, that in 10 years from now the US will still be a country. And if that is not true, then trading crypto will be the absolute least of all our worries. Oh, jeez, I'm getting trolled aren't I? Falling right into it. Darnit!