Crypto Bros in the house?!?
🗣️ DISCUSSION 💬
To all the crypto guys that lurk among us. For those of us who are crypto-finance retards, what should we be investing in? WTF is the difference between Bitcoin and all the other shit?!? Help us out! I want to get in on this scam
Look into the story of the Bitcoin Cash fork and the scaling debate. Sometimes Bitcoin's transaction fees are $10+ for months at a time making it unusable as a currency.
Blockstream has a major influence on Bitcoin's code development and they are funded by Digital currency group, which is funded by MasterCard.
When looking for which Crypto might best fit the role of sound money, look for the following:
Is there a finite supply of tokens? For example Bitcoin is still being mined but will eventually run out and reach a finite limit of 21 million coins so there will be no pesky inflation. Many coins do have an infinite supply.
Is it a pre-mine scam? How are new coins created, both currently and when it first started? For example Bitcoin and several cryptos are ethically minted and decentralized. Bitcoin had no pre-mine. It was open to the public from the very beginning so anyone can mine it and participate in securing the network. Some other coins like Ripple, are centralized and created all the tokens at the start and kept 80% for themselves that they sell into the market.
Who decided to give Ripple Laps 80% of the total supply at the start?
You have some good points, I guess Monero is the only major crypto attempting to do anonymous payments. But if you keep cash, we will forever have to live with corrupt central banks because someone has to be in charge of issuing it, and in the modern world, most payments are online anyway so it may as well be done in crypto instead of digital cash.
Personally, I am willing to sacrifice anonymity if it stops endless inflation so we can all be more prosperous. We can have fiat that barely fits any of the criteria for money, or we can have crypto that fits all of it except privacy.
But there are some solutions like decentralized bitcoin mixers that work very well. And even if you pay in cash in the supermarket, they still have you on video and can see what you bought.