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Posted on 2/15/22 at 3:38 pm to TigerIron
quote:
If the U.S government decides that crypto is or is about to be a legitimate competitor to the dollar, it can regulate it into oblivion, or make it illegal. And, if crypto isn't ever a legitimate competitor to the dollar, then I don't see the point. I have yet to see a convincing response from crypto enthusiasts to this.
Crypto is a lot broader than just currency so your second point is moot. There are over $100B crypto dollars already.
First point is valid and I think most crypto fans underestimate this one. But the only thing that makes it an actual competitor is the US and Fed’s own actions. I think the dollar is doomed to fail eventually anyway so unless we are all slaves by then the people will need some form of money for commerce.
Posted on 2/15/22 at 3:42 pm to stout
so why is wall street and most hedge fund managers buying it?
Posted on 2/15/22 at 5:13 pm to Bunk Moreland
quote:
Fed printing press moved from being hard asset goldbugs (which I understood) to something even more digital and less tangible -- crypto
Yes because all commerce is global and digital now. I don’t think Amazon is going to wait for it’s customers to mail them gold bars to complete a transaction.
Posted on 2/15/22 at 5:19 pm to TrueTiger
quote:
crypto depends on computer networks and electricity
If we have to live in a world without electricity, then I think we are going to have a lot bigger problems than figuring out what we can use to buy things.
Posted on 2/15/22 at 5:56 pm to EA6B
quote:
So the thumb drive fails, and the files can’t be accessed, or is lost in a fire, stolen, how do you get your money?
Oh shite. I spilled my coffee all over my life savings.
Posted on 2/15/22 at 6:00 pm to deathvalleytiger10
quote:
Where is the hard wallet? On my pc or in the cloud?
Mine is in a safety deposit box at my bank.
Posted on 2/15/22 at 7:09 pm to TigerFan55555
Crypto and gold are preparing for different scenarios. To me gold is better if the collapse is due to war etc where the grid goes down and we are back to bartering it also allows you to buy back into whatever system rises from the ashes. Crypto is banking on the grid being intact and the calamity is more of a government controlissue. I do not buy into the crypto craze I may eat crow but it seems like a scheme and the last ones holding will lose everything.
Posted on 2/15/22 at 7:11 pm to Jack Carter
quote:
Crypto is stolen off exchanges. You're not supposed to keep the crypto you buy on exchanges. You're supposed to transfer it into a hard wallet that cannot be hacked.
The dude in NOLA that got jacked by the fake Uber driver would disagree. They stole his physical wallet and his crypto wallet….allegedly.
Posted on 2/15/22 at 8:27 pm to stout
The super hardcore financial conservatives have always said if you can’t hold it your hand or stand and protect it with force you don’t own it!
Side note, Tucker played a vid of some lady who is a spokesperson for the Trudeau regime and Canada has declared that crypto currencies are nothing more than money laundering schemes and they will be regulated in Canada.
This post was edited on 2/15/22 at 8:47 pm
Posted on 2/15/22 at 8:47 pm to Bass Tiger
Sounds like super hard core morons to me
Posted on 2/15/22 at 9:54 pm to stout
The dollar becomes worth less and less every day. Is the dollar stupid to hold? Crypto is just another means to store money and grow it at a somewhat predictable rate. Same thing with the stock market. The stock market could go bottoms up any day. Is your investment strategy to hoard gold and silver? Why is that worth anything?
This post was edited on 2/15/22 at 9:58 pm
Posted on 2/15/22 at 9:56 pm to bayoudude
Easy to say that after the run up to 60,000. "All you people that got rich of Bitcoin will find out" haha. Ok bud.
Posted on 2/15/22 at 9:56 pm to bayoudude
quote:
Crypto is banking on the grid being intact and the calamity is more of a government controlissue
The metaverse is coming
Posted on 4/15/22 at 6:28 am to stout
I certainly don’t understand people spending thousands of dollars on NFT’s!
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