People's attitude is changing towards cryptos
- Thread starter Pekelo
- Start date
The US dollar has so far not failed, neither the Euro, Canadian dollar, Swedish Kroner, Swiss frank, the pound, Australian and NZ dollars,... So your statement is factually wrong.
Are you friggin' kidding me? Quit bullshitting for once. Crypto was all speculation. It was never about utility.
Last time I checked, you and your alter egos were into pumping and dumping this damn thing. Using it for any other purpose, like sending it to your poor aunt in Ukraine, wasn't even on your agenda.
Do you have to wait until something fails to sound the alarm? After much research, I am convinced that the reason for much of the problems in the world today comes down to fiat currency and government manipulation of money.
Hence why Crypto will never fly. How else can governments be able to sell their bonds and finance their corruptions?
Oh, wait, maybe they could just fork it and make endless supply of cryptos out of thin air.
Example? You call it manipulation, others management. Different sides of the same coin. Either we have entirely free markets at the expense of sky high volatility, which would make it very difficult for almost any corporation to exist, or money is managed by a central bank. Not many other options in between. If the central bank had not intervened in 2008 then many banks and corporations would have gone bankrupt. You might celebrate that as a cleansing of the system but imagine you were a retiree who had to liquidate portions of his investments to finance his living expenses. It would have also pushed many ordinary folks into bankruptcy.
The U.S. Dollar has lost 75% of its purchasing power since 1980.
The fact that the U.S. Dollar is outperforming other fiat paper currencies is a fact of little value.
Since 2008, the problem is even worse. Debt is considerably higher, income inequality is also much, much worse. There are bubbles everywhere. Bankruptcy is what needed to happen, but since it didn't, it just means the eventual problem will be much bigger.
I really do think that when they lose control of trying to balance interest rates with inflation and a crumbling economy, people will look for other solutions. Bitcoin will be embraced in order to stabilize whatever is left.
As for the forking, consider how much a fake anything is worth. That expensive watch or handbag has very little value if it isn't an original. Same thing with paintings. You can pay 10 million for a painting and if its shown to be a forgery, its worthless. The fork of any blockchain would have to be widely accepted. But just like you don't want to buy something for $10 with a $100 bill and receive $90 of change back in monopoly dollars, nobody will want to accept the forked blockchain coin.
I still don't get it. Crypto is some made up shit without any place in reality. It's like money in a video game like GTA5 lol. Nothing backing it, uninsured, not regulated. It's like people made up funny money and called it real.
Imagine trying to explain it to grandparents. They'd shake their heads and say what happened to common sense. Just because somebody made this stuff up, like money in some big online video game, doesn't mean it has genuine value. It's cultish. I'm a 164 iq somewhat smart person but frankly I don't get crypto. Good luck with it though.
Imagine trying to explain it to grandparents. They'd shake their heads and say what happened to common sense. Just because somebody made this stuff up, like money in some big online video game, doesn't mean it has genuine value. It's cultish. I'm a 164 iq somewhat smart person but frankly I don't get crypto. Good luck with it though.