As crypto adoption increases so does its stability. Far preferable to The Fed (private US central bank) printing $1 Trillion every time Congress thinks we're in a new crisis. Volatility and scams are directly related to the unanchored US dollar and naked short selling. The way forward is cryptos, a stripped down Wall Street, and a return to a gold and silver standard.
I get the waning value of the dollar. I understand it muscling in on the fed. What everyone fails to grasp is once the dollar is removed from the world reserve currency, cryptos take a massive shit as well. Everyone I know, has been bragging about their cryptos and how much they are worth......in $USD (believe me, the irony is not lost on me). The cryptos are only worth what people are willing to exchange for them. People being excited about the dollar value of their cryptos is like some sort of fiatception. While I understand the concept behind why cryptos are around and what they seem to accomplish (even with vulnerabilities such as %51 attacks) their stability is still wholly faith based on the currency itself and healthy economies.
Excellent point that every currency is worth only what it can buy. Will be interesting to see to what degree the price of a Tesla in Bitcoin varies from its USD exchange rate. But maybe this is way too myopic; on the grand world stage it looks like both sides are gunning for some kind of major financial reset. How can we best prepare for it? Gold and silver are obvious and cryptos less certain. Bitcoin has at least survived the proving grounds of the dark web and now more mainstream.
As crypto adoption increases so does its stability. Far preferable to The Fed (private US central bank) printing $1 Trillion every time Congress thinks we're in a new crisis. Volatility and scams are directly related to the unanchored US dollar and naked short selling. The way forward is cryptos, a stripped down Wall Street, and a return to a gold and silver standard.
I get the waning value of the dollar. I understand it muscling in on the fed. What everyone fails to grasp is once the dollar is removed from the world reserve currency, cryptos take a massive shit as well. Everyone I know, has been bragging about their cryptos and how much they are worth......in $USD (believe me, the irony is not lost on me). The cryptos are only worth what people are willing to exchange for them. People being excited about the dollar value of their cryptos is like some sort of fiatception. While I understand the concept behind why cryptos are around and what they seem to accomplish (even with vulnerabilities such as %51 attacks) their stability is still wholly faith based on the currency itself and healthy economies.
That dang Internet. It will never work.
Excellent point that every currency is worth only what it can buy. Will be interesting to see to what degree the price of a Tesla in Bitcoin varies from its USD exchange rate. But maybe this is way too myopic; on the grand world stage it looks like both sides are gunning for some kind of major financial reset. How can we best prepare for it? Gold and silver are obvious and cryptos less certain. Bitcoin has at least survived the proving grounds of the dark web and now more mainstream.