So in other words, crypto is just like fiat --- it is based on "trust" in the Fed.
Remind me again --- why are we doing crypto? Because once you subtract everything crypto was supposed to be but clearly is not, maybe it's just me but fiat starts looking like the better "money".
I'm yanking my money out pronto --- but wait, redemptions are "suspended"? Never saw that one coming, this looks almost criminal. I'm so screwed. Live and learn.
Is there a likely non-apocalyptic scenario where debasement of fiat doesn't involve massive inflation? How does Bitcoin survive debasement is it's vulnerable to one of the primary side effects of debasement?
And if Bitcoin is a hedge against the apocalypse, then I'll mirror the other comment here and say that there are probably better things you could do to prep for that, rather than invest in a coin that requires a functioning Internet in order to transact.
I would think all central banks would like to kill off bitcoin, etc. in favor of the centralized digital currencies that they are all developing.
I think government run centralized ‘smart’ digital currencies are going to be a privacy and control-the-population nightmare. I hope I am wrong about this.
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[ 4.2 ms ] story [ 47.7 ms ] threadRemind me again --- why are we doing crypto? Because once you subtract everything crypto was supposed to be but clearly is not, maybe it's just me but fiat starts looking like the better "money".
I'm yanking my money out pronto --- but wait, redemptions are "suspended"? Never saw that one coming, this looks almost criminal. I'm so screwed. Live and learn.
- "It's the Fed's fault the Bitcoin market is crashing"
Pick one.
Which explains why crypto has done everything possible to tie itself to USD by way of "stablecoins".
I read this as prepping for apocalypse, but maybe we'll just issue new currency backed by something hard. My mistake.
And if Bitcoin is a hedge against the apocalypse, then I'll mirror the other comment here and say that there are probably better things you could do to prep for that, rather than invest in a coin that requires a functioning Internet in order to transact.
I think government run centralized ‘smart’ digital currencies are going to be a privacy and control-the-population nightmare. I hope I am wrong about this.