As we experience the shitdoings of the deepstate in office, more people have waken up from using their fiat system that enslaves us with debt. Whether or not u use cryptocurrency, do you think crypto bear markets are less significant (shorter time frame or less deep dips) as more people switch over to blockchain led decentralized finance and use it more?
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Mostly paid shills, if you wanted to run a get rich quick scheme you wouldn't spend over a year developing brand new technology that's useful in so many areas outside of the currency aspect. You wouldn't solve complex mathematical problems nobody solved before, and wouldn't spend years learning about cryptography in order to develop the system.
It's as simple as anything that's easily available to trade, with a low trading volume and low supply will appear volatile in comparison to fiat currency which they brainwashed people into thinking it's stable, while in fact fiat is sinking like a rock. This gives an illusion of "get rich quick" just because profits can be high if you buy an sell at the right time.
You can say the same thing about a Volvo 740 in Sweden, buy one for $400 during summer and sell it for $2000 in the winter. That's 500% profit, why? because kids like to slide around with them on ice. Are these cars a ponzi scheme or a scam? of course not, it's just RWD cars built to be reliable and long lasting in combination with demand spikes.
How many of these coins are backed by physical? Just doesn't seem like anything gives these coins worth except the inflation of the USD.
Depends how you define "backed by physical". Is it enough with a fat guy in smoking, big noose and cigar who says "dude trust me" (Just like the original gold backed dollar). Or are we talking backup in case of power, network failure or a hardware crash?
In the latter case, it's more physical than any physical asset as you can make infinite physical copies of the private key, and use it to restore/access your wallet at any time, from any of the 11 000+ nodes spread across the world, or you could have a bunch of secured nodes on your own. It's all up to you as you're in control always.
As for value beyond exchange rate, just consider the industrial use. Blockchain is the main competitor to big data, and because of decentralization you need the cryptocurrency for billing. Any third party payment solution or bank would introduce a central point of failure to the system.
You think Twatter censor you because Dorksly is a cuck? maybe a bit for that reason, but bear in mind that Twatter is also hosted at AWS and has to follow AWS terms of service. Now imagine if Twatter instead ran on a blockchain. Then there would be no censorship from above and it would all be up to Dorksly himself. And if Dorksly still censor like he does today, then fuck Twatter, fork the whole thing and you'll be up an running in no time, the same platform, the same data, but this time no censorship. That's extremely valuable if you value free speech, and transparency.
Still doesn't make sense to me how any crypto will maintain value. You have to convince the other 75% of the world of its value first. And if half the world rejects crypto then we have a major problem. I personally would not accept digital numbers as a form of payment. Especially if that's all it will ever be is digital numbers. I don't live in a video game. But hey to each their own. I'm sure everyone knows it's a gamble at this point.
Supply and demand, just like your house or your car. You need to understand that stability when we're talking about value is a lie. The dollar is not stable, it's simply manipulated to have what looks like a constant inflation, which makes you think it's stable.
In reality that only means you lose when demand is higher than supply. You'd get ripped off. It's like if your house or car increase in value, but if you sell you still get less than what your house it really worth on the open market.
Crypto has value because it's a free market asset, just like your house, your car or even gold.
Last but not least, digital should not freak you out. Know the difference between a situation where you are in control vs a situation where someone else is in control. You keep your gold coins in your neighbors house, you're not in control, you have a bank account, you're not in control.
With crypto you got your key pair and you got your copy of the blockchain, which is verified towards the network. That means you are in control, just as you would have been with gold coins in your hand.