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[–] [deleted] • 1 pt

Bitcoin is also owned by the rich.

Imagine a world where everyone is scrambling over like, 0.00001 BTC meanwhile these pricks have hundreds of thousands, perhaps millions just chilling, and they have top of the line computer algorithms slowly accumulating more and more. Everyone trading on margin and they just flood the market with Bitcoin every once and a while, which causes these 40% drops, liquidates EVERYONE and takes all their shit. It's really shady and probably just a farming operation, or a good way to move money around, or a good vehicle for trading if you're knowledgeable enough (95% aren't). It would be a nightmare as an actual store of value.

Inflation is good in some sense. You can mine more gold, copper, silver, palladium or whatever else. And all of this can be "reacquired" once people get sick of one person owning basically everything and take his shit, that's what Nazi Germany did. Would they have been able to do this if it was all Bitcoin? Nope. With digital, that never really happens. Crypto is attractive to the ruling elites for this exact reason. You will see them saying things like that, "crypto itself is great but Bitcoin is dangerous". It's a stepping stone to the new world currency. They'll know exactly what you buy, exactly how much you have, exactly what you own, you will not even be able to fart without them knowing about it and signing off on it.

It's funny how 10-20 years ago everyone was terrified of electronic currency for all of these reasons, and now all of these same camps see it as being red-pilled.

I don't think there is one ultimate asset to rule them all. Certain assets are excellent in certain environments and shitty in other environments. Economic cycles are long enough that you can carefully strategize which cycle we're in and where best to store your money. Holding the dollar during the great depression would've made you obscenely wealthy because it was a deflationary depression.

Bitcoin is also owned by the rich. [Check this out](https://thenextweb.com/news/cryptocurrency-bitcoin-blockchain-wallet/amp) Imagine a world where everyone is scrambling over like, 0.00001 BTC meanwhile these pricks have hundreds of thousands, perhaps millions just chilling, and they have top of the line computer algorithms slowly accumulating more and more. [Let alone endless printing of worthless Tether.](https://mobile.twitter.com/rohangrey/status/1395418740288679941) Everyone trading on margin and they just flood the market with Bitcoin every once and a while, which causes these 40% drops, liquidates EVERYONE and takes all their shit. It's really shady and probably just a farming operation, or a good way to move money around, or a good vehicle for trading if you're knowledgeable enough (95% aren't). It would be a nightmare as an actual store of value. Inflation is good in some sense. You can mine more gold, copper, silver, palladium or whatever else. And all of this can be "reacquired" once people get sick of one person owning basically everything and take his shit, that's what Nazi Germany did. Would they have been able to do this if it was all Bitcoin? Nope. With digital, that never really happens. Crypto is attractive to the ruling elites for this exact reason. You will see them saying things like that, "crypto itself is great but Bitcoin is dangerous". It's a stepping stone to the new world currency. They'll know exactly what you buy, exactly how much you have, exactly what you own, you will not even be able to fart without them knowing about it and signing off on it. It's funny how 10-20 years ago everyone was terrified of electronic currency for all of these reasons, and now all of these same camps see it as being red-pilled. I don't think there is one ultimate asset to rule them all. Certain assets are excellent in certain environments and shitty in other environments. Economic cycles are long enough that you can carefully strategize which cycle we're in and where best to store your money. Holding the dollar during the great depression would've made you obscenely wealthy because it was a deflationary depression.

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[+] [deleted] • 1 pt