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362

If it is not a real object, it is a form of pyramid or ponzi, that is, all kinds of money is not the product or real object such as a chair, a shoe, a car, etc.

Money is just an vow to exchange something, and has no value.

But cryptocurrencies are even worse than money, they depend on technology, and in a difficult situation they can't be used, and they are used in money laundering for Russian, Chinese, Italian mafias, ISIS terrorists, etc. Cryptocurrencies are not officially approved by the government, that is, the government may block them, as Turkey did and banned cryptocurrencies, now imagine if USA and other countries do the same ? There's gonna be idiots committing suicide.

If you own cryptocurrencies, I recommend that you take all the cash value of them, and start buying real objects, such as house, car, even food, pay your bills, etc.

Get out the sooner the better.

If it is not a real object, it is a form of pyramid or ponzi, that is, all kinds of money is not the product or real object such as a chair, a shoe, a car, etc. Money is just an vow to exchange something, and has no value. But cryptocurrencies are even worse than money, they depend on technology, and in a difficult situation they can't be used, and they are used in money laundering for Russian, Chinese, Italian mafias, ISIS terrorists, etc. Cryptocurrencies are not officially approved by the government, that is, the government may block them, as Turkey did and banned cryptocurrencies, now imagine if USA and other countries do the same ? There's gonna be idiots committing suicide. If you own cryptocurrencies, I recommend that you take all the cash value of them, and start buying real objects, such as house, car, even food, pay your bills, etc. Get out the sooner the better.

(post is archived)

[–] • 3 pts

Many cryptocurrencies cannot be "banned" that was the point of many, to decouple control of monetary systems from extra-governmental entities. Some are totally a ponzi scheme, but fiat money is not "real" either. It's fancy paper, value is what you believe it to be in either.

[–] [deleted] • 0 pt

In a catastrophic situation or civil war, only real objects will have value.

[–] • 2 pts

Nope. A single country going down isn't going to take out a major cryptocurrency. Half the countries in the world going down won't take them out. Plus, people have backups that don't need electricity to boot back up later.

[–] • 0 pt

That's not an argument against cryptocurrency really. Theoretically in a situation described, you could retrieve your bitcoin after the fact, something you couldn't do with your fiat cash if your nation lost.

Blockchain tech holds the key to a monetary system far superior to fiat, hands down, no questions asked.

[–] • 2 pts

Crypto is a way better ponzi because even retards like OP can get in on it and profit.

Put on your tiny hat, we're money changers now, goys.

[–] • 0 pt

This shit ..

[–] • 0 pt

Everything you said is true of any stock, derivative, currency, funds, etc.

People have money in these things, and I would say that they are much more fragile than BTC.

I would think that soon there will be a drop in all markets, or in the dollar (drop in dollar raises markets as long as they are usd). Nothing going on right now is sustainable, and so it is just a matter of time.

What I tell people is that there is some chance that BTC will survive into the future. if it does survive it will be worth a lot, if it doesn't it will be worth zero. It is up to everyone to decide what they think that chance is, and invest accordingly. If you think it is a low chance, then throw in $100 and forget about it; maybe some day you will have $10,000. If you think it is a high chance then convert more.

[–] • 0 pt (edited )

Lol... OK. So what if I have to run? I can carry millions of dollars in my mind with crypto. Good luck hauling your silver horde through a checkpoint or airport.

The other advantages of crypto is that there is an upside. Nothing you mentioned has an upside. They are all liabilities. Nice FUD on a red-candle day tho. I shouldn't even be arguing with ya... It is to my benefit that they fall in price as it gives me more upside on the next run. Hell, I left the US so I don't even have to pay taxes on that shit. Good luck having a house in the US.

The real answer is to own land, metals, and crypto as primary asset classes with no debt and enough cash to float for a few years . Why argue over it? That is the best setup.

[–] • 0 pt

Just cause you lost money in some shitcoin today doesn't mean the whole crypto space is a scam.

[–] • 0 pt

I swear no one knows what value is anymore. You want to start a discussion you can go fuck yourself. I am just pointing out a fact.