re: Why bitcoin is worse than a Madoff-style Ponzi scheme

I already replied to you in this thread stating most bitcoin owners will not be spending their bitcoin. Why TF would I spend something right now that is constantly appreciating when I could just use fiat that is depreciating? I’ll keep my bitcoin untouched so it gives me more purchasing power in the future. At some point the appreciation will slow and it will be a more stable asset.

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The US has seen what happened with China and the ban,

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What did happen with China and the ban?

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me it is necessary to hear the upper mgmt plans from a tokenized network. Who owns majority Bitcoin & what are their plans?

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what is the phone number to upper MGMT in Bitcoin?

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Perhaps this is why we're 10+ years into Bitcoin and very few people in this country are actually spending it.

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If it is something you really want to be educated about, I'd suggest listening to some of Michael Saylor's interviews and how he views Bitcoin and it's economic advantages. I like the way he explains it.

YouTube

I can explain it to you but I can't understand it for you.

I think a big misconception is that crypto is billed as currency, but in its present form and how the population interacts with it, it's really just an investment. The main reason people buy it is to hope for a return.

I've invested and profited from crypto, but I don't see a future without government regulation if it was truly to be used. Once governments step in, the game completely changes and the crypto community seems to disregard any potential negative impact from this regulation. Everyone turns a blind eye and doesn't even consider the fact that their coin can depreciate. I've had people tell me the Fed is too stupid to create their own blockchain network and basically render any current project useless.

I'm interested to see how crypto reacts in 2022 with the rate hikes on the horizon because crypto is treated like a high growth asset, but the difference between a high growth company and crypto is that crypto fundamentally has no backing to support its price. Crypto and the stock market have both greatly benefited from QE the past year and a half so we'll see how it plays out.

Digital currency is the future, but I'm not sure why any current project would be used by a major central bank and I don't understand how people are so steadfast in their opinion that their coin has no downside risk, especially at current price levels after the run up.

Crypto being successful is bad for the US dollar, yes?

Shouldn't the true American patriots be renouncing the global-currency?

Weird bedfellows these days!

I thought the idea was that cryptocurrency enables movement away from fiat USD.

It's the opposite? Cryptocurrency is to strengthen the USD?

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It's the opposite? Cryptocurrency is to strengthen the USD?

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stablecoins are backed by dollars (generally speaking..)

so if cyrpto becomes the dominant medium of exchange globally, that means dollars become more prominent

for example: someone in turkey would rather hold a USDC stable coin over the turkish lira, if given the option between the two. everyone wants dollars.

so giving access to dollars on stablecoin rails is a huge deal for those in countries with weaker currencies.

this is why the US is focusing so strongly on regulation of stablecoins.

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Stablecoins meaning btc, eth etc?

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stablecoins means coins pegged in value to something stable, like the dollar. They typically are created by companies who guarantee their backing. These coins operate on crypto rails like the Ethereum network, which allow for you to send them peer to peer without a trusted intermediary.

Regulators are coming in hot for stablecoins and in the future only FDIC institutions are likely to issue them, IMO.