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

smacdtrader said:
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!
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A couple things can be true here

I also don’t think fiat currency is going anywhere anytime soon. I also think people that don’t invest in bitcoin, because they think fiat currency will exist, are missing out and asking the wrong questions. Maybe bitcoin can be some sort of a replacement in the long arc of history, but we’re not even close to that point yet.

But to cast doubt on the above comment of bitcoin buying a car, and in the future, it’ll buy a house in my opinion is wrong, too. Don’t take my word for it that is objectively what bitcoin has done in its history, and while potentially that could not repeat in the future, you’re gonna have to explain to me why this train just stops here?
 
GlobalMacro90 said:
But to cast doubt on the above comment of bitcoin buying a car, and in the future, it’ll buy a house in my opinion is wrong, too. Don’t take my word for it that is objectively what bitcoin has done in its history, and while potentially that could not repeat in the future, you’re gonna have to explain to me why this train just stops here?
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So I actually didn't say that. I totally believe that its possible that long term more and more things will be payable in BTC or crypto. Also maybe not. I just said that, there is some weird argument that people make which goes like, because I can buy a Tesla with BTC, the USD is about to disappear. Which is an erroneous straw man. And equally erroneous is the argument, BTC has a lot of volatility and criminals use it and there's no blockchain unicorn yet, so crypto is a pyramid scheme and has no utility.

BTC did something mathematically very interesting, it solved how to keep from double spending tokens without the need for a centralized 3rd party. That is actually quite a very very interesting accomplishment and it has some very cool side effects that can be totally appreciated, but it's not now the new global money, and it's not totally incorruptible and its not even deflationary, and intractable. If all the miners got together and decided to change the monetary policy of bitcoin, they could do that, and in fact they already have twice.

So anyways, dragged back into this argument. Jeez. But to me it's so obvious that the truth is just this very moderate thing, that BTC is cool and now there are trillions of fiat dollars every year spent trading it because it has qualities that people like, which are demonstrably better than baseball cards.
 
steve42 said:
People who believe in crypto have various serious mental problems and/or very serious mental deficiencies
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I hate admitting it since I like trading it and I think its cool and believe the tech has an interesting future, but I think you are very correct.
 
zghorner said:
Taking Lindy Effect into consideration, how long will crypto have to thrive before you change your opinion to -> it is more than likely here to stay?
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How long have there been slot machines, how long has the game of poker been around? I wouldn't expect crypto to disappear until humans lose interest in "getting rich quick" or buying things that are illegal.

Or, look at it another way: How long has religion been around? I would guess crypto should last longer than religion. Both Crypto and Religion are useful for scamming people out of their money, but Crypto has a leg up on religion. Crypto is real, but religion is based on the supernatural.
 
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wxytrader said:
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. :)
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You've forgotten about the guy that paid for your Lambo. I imagine he is still around and mighty pissed. :)
 
wxytrader said:
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. :)
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That's pretty funny and it's more telling of said mental problems that I had mentioned that you people have you think that you have something or are in on something that nobody else has which is delusional
 
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