If they had control over Bitcoin they would not be taking measures like this.
(twitter.com)
😷 DEM PANIC 💉
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (229)
sorted by:
Therein lies the key. Crypto, no matter its good points, still is not a direct means of exchange for most things people need and use - you cannot use it to buy food, gas, or pay your rent and other bills. For the most part, it still has to be swapped for another medium of exchange to pay for most things. This is the choke point that is vulnerable and can be attacked. Canada is showing us the vulnerabilities by freezing the ability of crypto to be exchanged for other mediums of currency. That does not mean that using crypto is not impossible, but it will be made more difficult to move it.
Neither is silver though at the moment, just try paying for gas and groceries with silver today.
Exactly. I was not making a statement necessarily in favor of something else. I was only pointing out some of the obvious drawbacks of crypto - but as you state, those same drawbacks can apply to other mediums as well. This should not be an argument between one thing versus another. There is no one perfect thing that can be used as a medium of exchange. They all have positives, and they all have negatives. The key has always been diversification to spread risk.
But the grocery store, the gas station, or the bank will not take precious metals and it sure as heck can't be used to pay taxes or other debts. This is not to knock silver or any other medium people use to shift from the fiat debt system the bankers have built for us. I am for all of them and I believe whatever holds value and can be used is a good thing. I keep the shinny stuff myself in addition to anything I think can be of value to someone else as a means of exchange. The more the better.