Quote:
Originally Posted by enjoythemusic
(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
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Steve - You always try to put down the USD and the currency being printed when ever.
But the truth is that all the people want to turn their crypto into cash. How many people say they lost 2 bitcoins? They only talk about their bitcoins as if they were actual currency.
Crypto aka Bitcoin is not money in any way shape or form.
1) It has no intrinsic value in that it is not redeemable for another commodity, such as gold or cash.
2) It has no physical form and it exists only in the network.
It's a math equation that's it
People try to tell others that it has a value but it does not because it is not real as the world sees reality ...