711–720 of 910 posts
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The Greek citizens went through this because the Greek government has been lying for many years in its financial reports.
Lol found the German
https://www.ft.com/content/33b0a48c-ff7e-11de-8f53-00144feab...
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Yes you can frame and admire a digital token, or rather the address holding the funds. Gold's value has nothing to do with its utility. I don't get your people's arguments. You keep repeating "a digital asset can't have real value" when the last 10 years have proven you wrong. You fool!
So you pay $40k+ for bitcoin just so you can frame some numbers and letters and say you paid $40k+ for those numbers and letters? Gold's value comes from the fact that it doesn't dull or dim over time, and has many uses in the electronics and jewelry industries. If you have the resources to get gold and own it, that is a clear sign of status and value. Can't say the same with crypto for any counts. All of crypto's va…
And yes you can parade the fact that you own a bitcoin address, this is after all probably the only reason most people know about Craig S. Wright
> There is no convenience, no government backing, and no trust
convenience is in stablecoins, government backing is in CBDC, trust is anchored at the foundation of any cryptocurrency project...
Let me put it this way: as long as people will find ways to do things with Bitcoin (remittances, darkmarket, etc.) that they couldn't do with Gold or USD or whatever, then it'll have value. 40k of value? I don't know, but it will still have value.
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What about encryption?
You don't seem to get it, do you? Your government decides it can't regulate crypto, so it bans it. People use crypto anyway. Government raids telecom and puts filters on Internet. People use encryption. Government shuts down Internet. People use satellite internet. Government make penalty for using crypto a life sentence, because they can. Drives around with vans detecting sat signals. You can't fight them on their t…
I don’t think you’ve thought this through, even though you’re so adamant.
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That 2% number depends upon whether you trust the people inflating the USD to tell you what the inflation rate is. Feel free to call shadowstats crazy, but nothing in it is false. It's just another perspective. http://www.shadowstats.com/alternate_data/inflation-charts
You are right. The official inflation rate is wrong and misleading.
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This happens in many countries already, the inflation tax of the US banking system is 2% and not an issue. That does not make Panama or Hong Kong US colonies.
That 2% number depends upon whether you trust the people inflating the USD to tell you what the inflation rate is. Feel free to call shadowstats crazy, but nothing in it is false. It's just another perspective. http://www.shadowstats.com/alternate_data/inflation-charts
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It's sad that this aspect of the conversation so often gets replaced by everything else. This is (IMO) the most important point about digital currency - the promise of providing consumers in unstable economies the chance to convert to a more stable currency without government intrusion. We're still not there, but that should be the north star for crypto (again, in my opinion).
Say everyone in an unstable economy were paid in usd. If that country has foreign deficit, if that country has high government debt. What happens? How can the government keep paying its own employees? How does it pay retiree checks? How does it subsidize farming when needed? As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc... Strong currencies are not the solution to…
1. Countries that have natural resources can raise capital when they need to, either by selling/taxing rights to those resources or by selling nationalized resources. Ecuador for example uses the dollar and also produces about a half of a million barrels of oil per day.
2. For many developing countries, the whole point of using the dollar is that it precludes monetary over-engineering or corrupt practices that give rise to inflation. This makes the economy safer for the have-nots, who have fixed local-denominated savings and/or earn a fixed local-denominated wage.
3. Simply using the dollar makes it easier to facilitate trade, tourism, and remittances. Panama does a lot of shipping and transit. Ecuador is a tourist destination. Remittances are the major source of foreign income to El Salvador.
Those countries that accept dollars and also maintain a dollar-pegged local currency are able to conduct monetary policy while also establishing a measure of confidence in the stability of their currency.
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While you are right, I do not think truly understanding it is as easy as a few minutes of research. It was quite mind bending for me the first time I read about BTC.
I don't think you still get it. Do you?
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You haven't shared "the point" just a link to MicroStrategy, a failed software company whose CEO had to pay an $11 million dollar SEC settlement decades ago for cooking the books, making a desperate Hail Mary play buying near the top of a speculative mania in a bid to gain relevancy. MSTR is the new "Long Island Iced Tea" -> "Long Blockchain Inc" rebrand [1] Humorously enough, the same is roughly true of Tesla, a car…
Your view on currency exposes your extremely elitist bias. Are you aware that a large portion of the population is unable to purchase assets? What do you say to these people? What do you say as the dollars they earn pay less of their rent? Less of their healthcare? Soon...less of their groceries?
I would tell those people that if their government is broken they have bigger problems than their currency and once they solve their leadership problems the currency won’t be an issue anymore. Tough but true. Nothing there changes with Bitcoin and it’s $20 transaction fees.
These stories usually spur more enthusiasm for buying cryptocurrency, but ironically those buyers aren’t interested in spending cryptocurrency using their MasterCard. They’re hoping other people will buy cryptocurrency from these announcements, driving the price up. Or, more likely, they’re just hoping other people will buy cryptocurrency and not use it in these spending systems. Spending cryptocurrency would result…
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It's sad that this aspect of the conversation so often gets replaced by everything else. This is (IMO) the most important point about digital currency - the promise of providing consumers in unstable economies the chance to convert to a more stable currency without government intrusion. We're still not there, but that should be the north star for crypto (again, in my opinion).
Say everyone in an unstable economy were paid in usd. If that country has foreign deficit, if that country has high government debt. What happens? How can the government keep paying its own employees? How does it pay retiree checks? How does it subsidize farming when needed? As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc... Strong currencies are not the solution to…
This is especially true for refugees. They run the very real risk of being killed for any money they are carrying but if one has one's keys memorized then no one knows you have funds and you are somewhat safer.
Over 1/3 of the world's population lives in countries with declining or unstable democracies, crypto currencies provide a small cushion from that in some situations.