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438

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[–] • 11 pts

I don’t “trust” either. One is a government-sponsored fraud built on thin air, while the other can be effectively obliterated with the appropriate tech czar put in charge to either outlaw its use, block access, or even just shut down the internet in general.

How do you trade and verify crypto with no internet, or worse, rolling blackouts lasting for days or even EMP discharges?

There’s a reason why I’ve always been a believer in hard metals. They can go untraced. They aren’t reliant upon the infrastructure. They’re absolutely limited in physical volume.

[–] • 2 pts

I see your precious metals and raise you guns, knives, axes and gardening tools.

[–] [deleted] • 2 pts

Those who beat swords into plowshares end up plowing for those who didn't

[–] • 1 pt

I’m up for both. At first, things could fall into a barter system. However, eventually there will be a need for a portable, universal system of exchange that won’t be able to be debased or fraudulently “duplicated.”

[–] • 0 pt

Regulators operate at the whim of the level of competence of innovators. So far, the latter is running circles around the former and I don't see that changing in the next couple of decades or at all. Blocking access won't work either. You can't just shut down the internet. Starlink is ramping up and the complications it inspires says just enough. What did you think Space Force was about again?

How do you trade or verify crypto with no internet?

kek You poor, poor brainlet. It feels like you don't deserve to know. Maybe you'll figure it out one day, big guy.

Power goes out

God what a retarded thing to say. What if an asteroid hits the earth tomorrow? Are you going to starve yourself, not have sex with your wife, approach a woman you're attracted to? Are you going to give up hygiene because you could die tomorrow?What a retarded ass argument. The intellectual ineptitude this kind of argument takes is insulting at best. Why the fuck will you care how much money you have if our digital world is suddenly obscured. You should care a whole lot more about not starving in a few weeks in that scenario. What retard asks why you should make good money because one day you might die? Do you seriously not realize how fucking stupid this argument is?

Metals are better.

They're the next best thing. I'll grant you that. So, how do you plan to do business with some guy in France with your metals? Are you going to send ounces across the pond? Are you going to do business with someone across the country, even? How about across your state? Are you going to send ounces across your state?... You should feel bad for making a comment like this without being privy to the basics of modern economics and people like you do not deserve to participate in these conversations.

Do your own research or remain poor.

[–] • 0 pt

You can use blockchain via satellite but if people arent doing on a large scale then there isnt much use.

[–] • 0 pt

Hard metals are only valuable while dollars have value. The only reason most people want "precious" metals is based on its "dollar" value. I will not trade food for gold. I will not trade tools for gold. It will have no value along with everything else when the dollar collapses. Steel, titanium, and tungsten on the other hand would still be very valuable.

[–] • 1 pt

You’re right, dollars existed for thousands of years while hard metals only were invented recently. That’s why when the dollar was cut loose from gold in the 1970s, gold values dropped like a rock while the dollar became stronger.

[–] • 0 pt

You would have been better holding dollars to gold the last ten years.

[–] • 3 pts

Its wallets are hackable, it is non-fungible and subject to increasing regulation. Might as well just barter if you need an alternate currency. Bitcoin is a speculative and therefore volatile. Not a good substitute for a serious currency.

[–] • 0 pt

All of what you say is true. However, the volatility is only the exchange rate. You can say the dollar is volatile. And it is, generally headed down. Notice that everything priced in dollars is going up. This is another way of saying the dollar is going down.

[–] • 1 pt

Biden will tax unrealized gains-- as if it were futures contracts. Fasten your bitcoin belts.

[–] • 0 pt

On what planet are the not fungible? Which wallets are hackable? Do you not understand cryptography or information assurance strategies? Of course, many things are hackable, but when we say "hack" we often mean doing retarded things with PII these days. Retards give up their seed phrases for "bigger APYs" and stupid shit all of the time. This isn't evidence of a wallet being "hackable", this is evidence of people being stupid. Finally, regulators are much less competent than innovators. Regulators are the cat and Innovators are the mouse. This is Tom and Jerry and the regulators are buffoons.

[–] [deleted] • 2 pts

Crypto is just a code. It can be lost easily.

[–] • 0 pt

What in the fuck? So you just explain what it is and act like that's an argument?... Is this Reddit? Crypto can't just "be lost". At least explain what you mean by it being lost.

Do you guys seriously just believe things people say to you? This is a tragedy. So many of you guys are missing out and this is beyond cringe.

[–] • 1 pt

It's not trust, it's what all of the people on the planet who want to engage in commerce use. I don't care if it's donuts or dollars. If the market is using it for currency, that's what I'm using.

[–] • 1 pt

Whatever currency productive people use is the most valuable.

[–] • 0 pt

Anytime a hamster can "trade" better than a human through simple RNG, it's a casino.

[–] • 0 pt

Proves nothing.

You can do the same exact thing with dollars on the stock market.

[–] • 0 pt

Hence a casino. Thanks for backing me up on this.

[–] • 0 pt

You cant win with RNG at a casino. Try it. Let me know how that goes for ya.

[–] • 0 pt

Honestly? I don't think the power is going to stay on. At least I can use old worthless dollars for bookmarks and wall paper.

Invest in skills, experiences, books, and tools.

[–] • 1 pt

Invest in skills, experiences, books, and tools.

Good advice. Skills will be worth more than money. Ill build you a house if you give me those cows...

[–] • 0 pt

So you think it's sunk cost?... Your plan is not to care for upward mobility until your imagined doomsday scenario plays out? That's one bold gambit. Have fun being poor.

[+] [deleted] • 0 pt
[–] • 0 pt

Simple answer crypto has nothing to back it up. The dollar is technically backed up by 330 million americans. American labor and goods is the american dollar, crypto has nothing. Literally just bits in the cloud. Essentially when other countries buy dollars they buy the labor/goods of the united states. Say what you will but american engineering and tooling is still world class. There is a reason why the chinese buy american/european designed steel mills and nuclear plants. So why would I trust something that inherently has nothing to back it up? If the dollar fails, the us government can sell its people (more or less). What does crypto have as a back up?

[–] • 0 pt

nothing backing it up

Very fucking wrong. PoW has energy expenditure backing it up. PoS has consensus backing it up. Time released blocks inflate a currency (scale) to match allotted amounts. Those who are more heavily invested get more returns. Both cases, chains are based on algorithmic computations. The value is backed by the work performed by the network. Just because you don't understand how the technical side works, it doesn't make it imaginary. The dollar isn't backed by shit. You're repeating what crypto is backed by and saying the dollar is backed by it and not crypto. You can't use both arguments.

Crypto is backed up by the consensus of a network or by mining equipment and amount of a chain mined. You do not understand these things. You're repeating what someone told you like an NPC and you think they're good arguments. They aren't.

[–] • 0 pt

Your argument is retarded. Crypto has no value because it is backed up by nothing. To say it has value because of time/bits spent is the same as arguing that a WOW account has value because you spent 9000 hours playing it and maxing out the character. Sure someone might buy it and give it inherent value, but its only as long as there are player playing the game. The moment the game loses popularity for something newer or shinier, the moment the house of cards fall down. The moment no one gives the max character value or the game any more play, it inherently loses value. There is a reason why there are 100's of cryptos out there and counting.

Why aren't max characters in WOW used as currency? Wouldn't it literally be the exact same as any crypto currency? Why is that only a handful of cryptos have value and the rest are dead in the water? Are they not also backed up by energy expenditure?

Just because there is energy expenditure doesn't mean it has value. If nuclear fusion becomes feasible and energy becomes free, crypto=worthless. If power goes out = worthless. If a government says that the currency is illegal = worthless. Guess what China just did numb nuts?

"People do not back currency. Peoples interests and wants give currency value." The dollar is tied to the American Economy. As long as the American economy has goods, services, labor etc that other people want it has value. The moment the us government says that no crypto exchange can occur to the us dollar, is the moment crypto dies. It has NO VALUE. China did it. Other countries will follow.

The question that was asked, is why trust the dollar,simple answer: because it is tied to the economy of the United States. The United States has goods, labor , etc that other countries and other people in the country want. Crypto has none of it. Energy expenditure or a finite amount of anything doesn't give it value. Why aren't trading cards used as a reserve currency? Precious metals are the same, they only hold value because they have a use. Crypto doesn't. I can use gold in an electronic device. Platinum in a cat. Crypto in a dildo machine?

[–] • 0 pt

If you're just going to repeat your original argument like you didn't read what I said clearly demonstrating your complete lack of personal research on the topic, I'm not going to keep trying to help you. Go back to Reddit and trade derivatives on webull.

[–] • 0 pt

People do not back currency. Peoples interests and wants give currency value.

Crypto (not all, but good ones) are backed by an absolute maximum amount of coins that can ever exist. Mathematical algorithms. The blockchain. Decentralization.

The dollar works the same exact way. Except there is no max to how much can be printed, the algorithms that run fiat markets are outdated at best. And there is no blockchain. And its owned by a non-American private entity (Centralized)

The blockchain is one of the greatest technological creations of our time. I would recommend people read about that before having opinions about how crypto works. Because if you don't understand the blockchain you will never understand crypto.

If the lights go out it all becomes worthless. Dollars, crypto, metals, etc... So the whole internet going out argument is just stupid. Nothing can happen to crypto that cant or already has happened to the dollar.

[–] • 0 pt

Just to be clear. Im talking about dollars vs crypto and your trust in either. I am not talking about metals and finacial collapses.

[–] • 0 pt

Afaik, all are based on petro dollars. Worse, most people don't seem to understand this.

Saying, "my more flawed petro dollar is better than your flawed petro dollar" is just silly.

[–] • 1 pt

Petro dollar means money represents energy.

[–] • 0 pt (edited )

Exactly. For example, the intrinsic value of a bit coin is the capital expense plus energy required to harvest. Its cost is largely set by the cost of energy required to operate the hardware. It is a petro currency.

Case in point. One farmer recently re-started a power plant just to farm.

Think about that. What this means is that it's driving up energy costs (you'll notice that everywhere it is part of (((their))) plan). Which means everyone is subsidizing the cost of farming. A country's GDP is inversely related to the cost of energy. Which means farmers are actively involved in economic injury in every economy in which they farm.

In every reasonable metric, these types of currencies are idiotic and injurious to economies. This is just barely getting started on their issues.

[–] • 2 pts

I've been saying this for a long time. I guess I was ahead of my time, as I've been known the game. Green energy is just big tech trying to cut it's bottom line. They want to make petro based energy more expensive to incentivize inefficient "green energy" so they can have tech that will ween them off big oil. Not gonna happen, their scheme is a pipe dream, unless we go full blown nuclear, we will be burning hydrocarbons for a long time.

[–] • 1 pt

Blockchain currencies aren't based on petro...

[–] • 0 pt

How do they generate their blocks?

[–] • 0 pt

Proof of Stake is done though a protocol. Proof of Work is done in a variety of ways, one of which, I'll admit, is done through legacy power systems, but this is increasingly dying down. Look at El Salvador. They got hounded about the environmental damage so much mining would cost so they decided to go geothermal via a local volcano. The faggots suddenly scrambled, sent the IMF after them and screeched, "YOU CAN'T DO THAT!" then Evergrande happened, people started pouting about the debt ceiling which never amounts to anything and started FUDing BTC over the energy demands (which, contrary to what you hear the Mockingbird Media espousing, is fractional compared to the glass industry and a few others, which demand significantly more energy). They were obviously punished for this move. El Salvador went Chad though and just said, "ha! We bought the dip!"

[–] [deleted] • 0 pt

The Dollar used to mean something. "One Dollar in silver payable to the bearer on demand" used to be printed on US cash money

There is a brilliant documentary called The Money Masters. It starts with Jesus kicking over the moneylenders tables and getting arrested. Moves on from there. It's a classic

[–] • 0 pt

Yes. That was money. We now have currency. Money is backed by tangible goods (gold, silver, platinum, etc.).

[–] [deleted] • 1 pt

I work for money, but I also work for an exchange of goods and services where no money changes hands. I fix a roof, you fix my car. I give you eggs, you give me bread. This is how real people have always lived.

With crypto you still have to have faith and trust in the system. I know when my car has been fixed. I know when I can eat bread.

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