But unless it’s fully collateralized, it’s fundamentally all the same scam.
Even these “stable coins” have more in common with a stable full of horse sht than a stable, valuable asset. Only today, when some shyster “stable coin” was imploding into nothingness, its pimp actually described how they were going to “stabilize” it by utterly debasing it some more. It’s all ridiculous beyond belief.
If they understood money they would know crypto is fundamentally flawed and would have invested in Gold and Silver and waited for the coming revaluation.
Fiat currency is not sound money. Unbacked crypto is digital fiat. The only thing that gives it value is people's confidence in it. That literally makes it a confidence game [con game]. Gold and Silver are TANGIBLE assets.
We have been conditioned to think of dollars in terms of value when dollars are just Gold and Silver substitutes. When that switch clicks in your head it is like a light bulb turning on.
I wish crypto guys understood money better. :(
I wish money understood money better.
Because printing trillions and trillions of new ones is exactly why Bitcoin is better money... than dollars. (Or gold)
BTC is not money it is currency. It is EXTREMELY important to understand the difference.
Money is intangible (BTC) Currencies are tangible
You are exactly backasswards :)
https://www.merriam-webster.com/dictionary/tangible
Oh, they certainly, eventually will. 😉
Have you checked Tether lately? Here we go.
No.
But unless it’s fully collateralized, it’s fundamentally all the same scam.
Even these “stable coins” have more in common with a stable full of horse sht than a stable, valuable asset. Only today, when some shyster “stable coin” was imploding into nothingness, its pimp actually described how they were going to “stabilize” it by utterly debasing it some more. It’s all ridiculous beyond belief.
Greed blinds people. :(
How dare they try to support a system that falls outside of the central banks?! Fucking insurgents
If they understood money they would know crypto is fundamentally flawed and would have invested in Gold and Silver and waited for the coming revaluation.
Tell me how it is fundamentally flawed?
Specifically:
How is it any more flawed than traditional fiat currencies, or stocks in the real world stock market.
https://www.milesfranklin.com/the-seven-characteristics-of-money/
Fiat currency is not sound money. Unbacked crypto is digital fiat. The only thing that gives it value is people's confidence in it. That literally makes it a confidence game [con game]. Gold and Silver are TANGIBLE assets.
We have been conditioned to think of dollars in terms of value when dollars are just Gold and Silver substitutes. When that switch clicks in your head it is like a light bulb turning on.