Crypto currency is fiat currency... Prove me wrong

Power of governments is what makes any type of currency have value. Crypto has no backing irl. Long term it’s like sitting at the roulette table. People always say the same crap when crypto is going good, where are they when tshtf? **crickets**

This is how it works, don’t get hustled out of your hard earned money, the stuff you can touch and pay bills with. Not these chunky cheese coins as a read a poster say lol. We Anna play in the cryptoverse, use this guys free contribution to the crypto community. He’s linked in the thread and he will teach you how to get into crypto and out of it within hours and leave the crypto gambling market a winner.

Thread: The truth about the crypto currency market

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First find out what fiat means.

cryptos are fiat because they are easy to replicate to provide same function. They can therefor be "printed" over and over devaluing the assets. And even worse, cryptos can be hacked, or turned off by any number of people. If the power goes out for two weeks, cryptos are worthless.

Definition of fiat currency- Fiat money is a currency established as money, often by government regulation. Fiat money does not have intrinsic value and does not have use value. It has value only because a government maintains its value, or because parties engaging in exchange agree on its value.

Crypto is fiat without backing, it’s only successful when people have faith in it. Otherwise, it’s worthless. And when it has perceived value, that value is constantly manipulated by market makers which causes uncertainty leading to doubt as regular traders get left holding the bag when crypto does the unexpected which it tends to do.

But noooooo, it’s not controlled or manipulated they say. Governments haven’t shut it down cause they can’t..sure....because they’re incapable, right? Hodl, quite literally. Nonsensical crap spewed by die hard cryptotards. Make your money and get out of crypto same day. Don’t leave real money in crypto, it’s like leaving your money on the craps table til you lose except with crypto you might get your money back years later. Stupid no matter how you look at it.

you can't eat it

The countries have little to do with it... it's the banks that are in control.

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I don’t get it....

If crypto is fiat, then the governments around the world will adopt it....

You’re contradicting yourself now or you meant to say that it’s just like fiat and will be accepted everywhere soon?

Why are you eating paper anyways?

Prove me wrong. That is millennial speak. Why didn't you say Get In Here? Fuckoff you retard and get your vaxx now. Or get 5 to be safe.

My new favorite among these cry baby no coiners is “if the power goes out”.

That’s just the best...

If the power goes out;

Your stocks are gone.
Apple, Google, Amazon, Facebook all GONE.
Your money in the bank is gone.
The grocery store can’t even open the doors.
The gas won’t pump.
You can’t cook food.
You can’t keep food cold, or preserved.
Drinking water is no longer safe.

But yes, “if the power goes out”....

And as the power comes back on, guess what would be enabled first? Why, a decentralized currency surely as nodes can run anywhere in the world and be connected to with satellite.

Fiat just means the Govt sets the value. When the US was on a Gold standar, Gold was a fiat currency.

Crypto "value" is debt, person A has to put money in and person B puts more money in. Person A gains profit and B is a bag holder.

Cryptos (any decent ones) have scarcity built in. So you can hate on it all you want but it is not fiat.

The US dollar is fiat.

Fiat Money Definition:

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

Bitcoin is not government issued, and the protocol enforces digial scarcity (21 million bitcoins, that's it.) So it is not fiat by any definition.

PS: If crypto was fiat nobody would buy it!

Yeah, everything is a pyramid. Now you see...

Crypto is a pump and dump backed by nothing.

You have it flip flopped fiat currency is cryptocurrency. Most fiat is in the ether and is not physical, just like a centralized cryptocurrency.

Biden will tax crypto at 80% shoon!

Crypto is the greatest ponzi scheme the world has ever seen, and nothing more.

If crypto was fiat, no one would have incentive to buy it and it would have never taken off. They would just leave their money in the dying dollar.

Thread: America is now Weimar...

Soon to be hunted by the feds

The bells are ringing for crypto death. Buy it after if you still like it.

Crypto currency is ponzi scheme
When the base of the pyramid bursts, the losses at the peak will be huge.