There’s a strong argument that fractional reserve banking is one huge currency manipulation and creates what is ultimately fictional wealth, but it takes a few generations to realise and reap the consequences.
I am not praising the jobs of central banks and governments thus far; far from it. There absolutely must be a change. My point is that crypto is not the solution and has the potential to make it worse.
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I dunno about making it worse. Currency debasement usually ends in systematic collapse, I reckon blockchain technologies certainly have potential as localised means of exchange / local currency if/when global currencies become worthless.
That’s my point: cryptos have a much greater chance of becoming worthless than a global currency.
But, as discussed above, once it becomes more pervasive and accepted, maybe more stability will come. But I think it’s even more vulnerable to manipulation and fraud than fiat, which is what I mean by “worse”.
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hypothetically, the more people own and use a particular crypto, the less volatile it becomes.
Can you imagine how volatile the dollar would be if to-date the US had used a barter system and had only just now launched its own unlimited supply currency, but only a few people were using it …
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You’re right, you’re right. I think that’s perfectly logical. I still have concerns about it’s vulnerability.
Anyway it’s a super interesting conversation and I’m glad to see so many different opinions on it speaking with cool heads.
Like I said, if it weren’t for it’s footprint I’d probably be playing. But until then…
I HOPE YOU ALL LOSE YOUR SHIRTS!
(Seriously, though, stop contributing to death of Earth 
)
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There seems to be some truth to this. 2 years ago or so I saw a site that tracked ownership and it showed that essentially 100 addresses owned like 70% of BTC and even then there was no way of knowing if multiple addresses were owned by a single entity.
Blockchain (Not a cryptocurrency) is a great way for a single Person or a small bussines to gain computing Power, so that its possible for them to complete their shit… If its Said that big firms are now interested in crypto it doesent have to mean as a currency its because of that idea of potentialy cutting down serverfarms in the Future and let you, the customer, do the Job, with your own hardware (iam thinking of Banks, transactions, ect.). Power to the people… Lel… So its as with every new invention it depends on how it is used…
Alright gang, just bought 7 million coins of Shiba. I’m going to forget about it for a few years, hopefully when I remember I got it it’ll be up to a dollar. If that happens, I’m buying you all an OT MK3.
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I put £100 on shiba … will try to ignore it for a while ( though it’s already dropped a lot )
Everything is down again.
Boo.
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Good luck. I hope you still diversify your investments reasonably, because complete loss seems a bit more likely to me than for other asset classes. Personally, I treat crypto investments like lottery money. Might as well piss it away, but I kind of enjoy the thrill. As a consequence my investment in crypto currencies is capped at 5% of what I invest in total.
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Would love to buy some cheap crypto, but the exchanges are crashing. Super effing annoying
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Actually super fucking smart way to deal with bank runs nowadays. Just shut the doors.
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“Out to Lunch” sign on the app homescreen
Someone knows their history!
I use my Octatrack to mine Bitcoin. It’s a very slow and tedious process that involves a lot of menu diving but i hope it’s worth it. I also tried to timestretch some Bitcoins but it sounded awful.
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Ghost ride the dip!
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sure is a bear market today boys. i keep buying dips and they just keep getting dipper!
i’m sure all will be well in a month or two. seems these things have happened many times before.
just make sure to go all-in on the last dip