Crypto currency is fiat currency... Prove me wrong

You're right.

So what if its limited supply. Forgetting portfolio gains for the moment, its based on nothing.

Carbon credits on the other hand..

Pine

:bank:

Truth

Quantum computing

Last Edited by Looking Around on 02/23/2021 10:14 AM

:money:

Fiat is "by decree". It is an officially authorized order, ala Federal Reserve Notes.

However the entire world economy meets the definition of a Ponzi scheme. You should look into THAT!

Falling down. Don't catch a falling knife.

Buffet guy slams bitcoin.

Kudos to me. Dump crypto. Elite will not let it happen. GpUs will be banned to mine crypto.

Expensive transactions. Rubbish money.

I truly think bitcoin is ultimately a trick.
It will be used to control people and will end being the opposite of freedom.
IMHO, people who are pro cash, gold, and silver are embracing it as a replacement.
Google bitcoin is evil previous to say 2018. Very interesting articles.

Only if it can be physically be backed by Gold or Silver or another precious metal commodity.

Bank on it.

Tanked boom fiat

What was gold's utility usage before the industrial revolution and invention of electric circuitry?

Why was gold valued so much so to be the underpinning of a fiat currency when it had practically no utility usage compared to today?

When gold's utility usage increased so dramatically, why did it's value adjusted for inflation not increase dramatically as well?

550 BC, gold coins are struck

1915, gold coins still being struck for all the same reasons, fetching about $500

1950, gold printed circuits being struck in mass production, coins fetching about $340

1980, economic shenanigans ensuing, coins fetching about $2,200, TVs with lots of gold circuits sold so cheap that almost every family in America can afford more than one with color :o

2001, coins fetching $400, most families in America now have multiple wide-screen TVs, and computers, and cell phones


need I go on?

It is not false to argue that the value of any currency or commodity is determined by perception and belief.

Utility usage can also be a determining factor, but the history of gold's valuation in recent history should prove to any one willing to look beyond perception and belief that utility usage has little to do with it at all. Perception and belief trumps it on the daily.

Not even fiat. As peter schiff says it is more like a digital token. Think chuckee cheese. You can't pay your taxes with bitcoin can you?

real money is in the brokers that charge $20 per transaction.

Pump dump. Big companies are using bitcoin for a tax hedge. Big tax help

Crypto can't be counterfeited and printed into oblivion like fiat currently is.

Quantum computing is not really geared to break encryption. This has been shown to ad nauseam If it ever advanced to a stage where it could then cryptos would simply update the encryption protocols to quantum proof algos which they have already designed. Also if quantum computing broke current encryption protocols than the current traditional financial system would be screwed.

SO basically you are wrong on both points.

OP needs a lesson on why cryptocurrencies are the next step in the evolution of currency and what makes it so valuable. What problems it solves and why he'll be using crypto within 5 years whether he wants to or not.

In theory, crypto currency fills a void for exchange.

However, crypto isn't the be all-end all solution to monetary exchange and here's why:

Any time that a stock or a currency can be manipulated by those that are able to acquire the most, they WILL manipulate the up and the down and Joe Bitcoin that holds 100 Bitcoin ($5,000,000.00) is a small fish in an ever-growing pond. If the power brokers decide they are going to short the crypto, they will and Joe Bitcoin will have to ride the ride.

Let's say Joe Bitcoin got in a 5,000/coin and now it is 50,000/coin. Joe's made a lot of money, right? Wrong. Until Joe buys something of value in trade for his Bitcoin, he hasn't made a dime. Just as in the stock market, you can talk about how well your stocks are doing and how much you've made but you haven't made anything on stocks until you sell your stocks and reap the profit.

Goldman Sachs is now getting involved and that certainly is NOT good news for crypto. Do you not realize that Goldman Sachs is a den of thieves? They will do with Bitcoin what they damn well please to accomplish their goals.

Billions of unspent wallets of bitcoins waiting in the wind to bail.


Then we will know the origin. It is a dark origin.

if crypto is FIXED - who Fixed it? who can/will UNFIX it?

what was Crypto before it begun?

So Crypto went from zero to hero?

It will come and go. Reset with the rest.

dude, do you even crypto?

crypto so hard.

Yep, it’s even worse than fiat cause it’s actually worthless for most of its existence. At least govts bomb and kill to keep their fiats value. In crypto people get liquidated by the market makers and the market maker sells his coins for tangible fiat while the rest of the idiots who didn’t “panic sell” play the hodl crap while they watched the coin go up and down up and down up and down. Insanity. Hodl hodl hodl all the way to fuckin zero. Geniuses most these cryptotards are.

This is how the game is played, I’m going to keep telling people so they don’t ruin themselves financially and instead can use crypto to make tangible fiat opposed to holding some shithole coin that’s supposed to fix another coins shortcomings. It’s like the blind leading the blind and they have no idea where they are going but they think it’s all gonna be great as long as they hodl cause gains are coming!! Until they don’t. And then you’re left with some scrambled up digits of bullshit. Lots of naive people get fooled and atm most people are desperate to make a living and crypto is tempting and they take their stimulus and unemployment and throw it away. It’s not designed for the majority of its players to win, people don’t see that and it’s obvious. If you check your ahit coin balance 5 times a day ya winning then ya down then winning then ya down but if I wait a year I might make .25 on every dollar or I might lose 80% of its value.


Thread: The truth about the crypto currency market

Also, a limited supply of each coin. Fiat to infinity.