Quote:
Originally Posted by huncho
... idiots who were then using it to trade on leverage.
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(Humble apologies if i come off as a _____ here. Pretty please be cool about my bit of snarkiness here) Just wait until you learn about fractional reserve banking (with little to no reserves). Ask yourself how high leverage is that system using?
The Goal: Be as close to when currency is produced as possible. It is when the currency is at its highest buying power. The longer the currency is within the system, the less value in storage it has. That's guaranteed due to the system it exists within.
The good news is that crypto going wildly up helps add consumption to the economy, so in a sense a way to help the system create new assets. If things get desperate enough with a crashing economy, who knows where crypto will be 'valued'. In a sense, we already know where central bank currencies will be (lower in value).
jmho ymmv