BTC down 10% just now - Why?

[deaddog]

you can prefer gold, but this makes no sense. crypto obviously has value, people are exchanging it at an astonishing rate. you could take a payment in crypto and convert it to the beloved fiat of your choice. i believe you don't understand it. i suggest you start learning. this is where the money is.

I'm just an old fart that prefers to be able to hold what I own in my hand. I can hold both gold and cash and it makes me feel more secure than knowing I have a wallet somewhere in cyberspace full of a crypto.

Even the mining process has me confused. I know how to pan for gold. I understand how the mining industry works.

Right now the fiat currencies are how things are priced. Some retailers will accept crypto but it will be converted to the fiat currency at that days price.

When the retailers I deal with start pricing their goods in crypto I'll probably switch. Not saying it won't happen just that I won't be leading the wave.

 

[tsznecki]

If a system that completely bypasses the accepted monetary system of that country is allowed to flourish, and proves better in some respect, then the country looses the ability to finance anything. You might think that you want to live in a country that is bound by a certain set of financial principals, but good luck trying to get any services. Sure you might pay low taxes, but you also aren't going to get anything for it. Now I'm not saying what the FED is doing is right, but if crypto overtakes the USD, as an extreme example, then imagine what this does to the country. You think you will have a police force to protect you? What will happen to road maintenance? Maybe you want less environmental regulation, but then I picture clean drinking water being even difficult to come by. Perhaps the military is defunded and all of a sudden, China wants to come set up shop.

So no matter how badly managed the financial system is, I just don't think a system that is out of the hands of the authorities is what most people would benefit from. But even before it gets there, I'm certain that it won't be allowed to happen if BTC truly did threaten the dominance of the dollar. So its not that we don't understand BTC, its that it will more than likely be the demise of its own success.

BLAH BLAH BLAH BLAH BLAH MORE HYPOTHETICALS

Are you ever going to post actual facts against BTC/Crypto or are you just going to post maybes, ifs, opinions about what might happen to it?

Every single criticism from you has been a hypothetical. Seems you can't find any factual evidence against BTC/crypto.

Of course you won't respond, because you know I'm right and your hypotheticals are full of shit.

 

[tsznecki]

I'm just an old fart that prefers to be able to hold what I own in my hand. I can hold both gold and cash and it makes me feel more secure than knowing I have a wallet somewhere in cyberspace full of a crypto.

Even the mining process has me confused. I know how to pan for gold. I understand how the mining industry works.

Everyone has their own preferences sure, but you expect us to take your arguments seriously when you cannot even understand what it is you are criticizing?

At least you are somewhat self aware.

 

[deaddog]

Everyone has their own preferences sure, but you expect us to take your arguments seriously when you cannot even understand what it is you are criticizing?

At least you are somewhat self aware.

I don't think I ever criticized crypto, I'm just not playing the game.

I still expect that some day some little kid is going to say "but mommy he doesn't have any cloths on"