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Crypto has not crashed, but sooner or later it will. For the US only the Federal government can issue money. Sooner or later, if it becomes a big enough issue, it will not be allowed.
You do know that CONgress only has the power to coin money (stamp bullion) or borrow money. CONgress has no power to CREATE money (as in create bullion). See Art 1, Sec 8, USCON.
And furthermore the "dollar bill" (Federal Reserve Note) is an IOU denominated in dollars. [debt]
And worse, was repudiated in House Joint Resolution 192, June 1933, making FRNs into worthless IOUs.
But few bother to read their own laws and thus are fooled by one set of con men.
No surprise that another gang of crypto-cons can fool the (m)asses.
You do know that CONgress only has the power to coin money (stamp bullion) or borrow money. CONgress has no power to CREATE money (as in create bullion). See Art 1, Sec 8, USCON.
And furthermore the "dollar bill" (Federal Reserve Note) is an IOU denominated in dollars. [debt]
And worse, was repudiated in House Joint Resolution 192, June 1933, making FRNs into worthless IOUs.
But few bother to read their own laws and thus are fooled by one set of con men.
No surprise that another gang of crypto-cons can fool the (m)asses.
Coinage is a job of the Treasury/Executive branch.
Cryptos claim to be decentralized - that claim is not borne out by the evidence. Whales control most of it. Exchanges control the remainder. Both are centralization factors.
Cryptos claim to be secure. Also false. Hacks happen all the time. People lose their coins all the time.
Cryptos tend to be cults. When someone gets hacked, the cultists blame the victim and not the criminal who stole. "See? You should have followed the 204 page instructions to the letter!!!"
Imagine sorting through the opinions of anonymous message board names from years ago….in an attempt to prove…what?? Yikes.
Being skeptical is a perfectly normal reaction to an unproven, speculative item at the time, and the only reason large returns were available was because of the enormous risk and long shot at success. The person who made the thread barely speaks English and is like “lulz by friends makin big money!!!” “Cus rly”. It doesn’t exactly create a good impression of those willing to take the plunge.
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