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I will keep my crypto thanks.
It’s becoming a worldwide hedge against inflation. There are numerous countries ahead of the US in its acceptance and usage.
Democrats are trying to kill crypto by going after stablecoins. They realize this is the one true tool for wealth transfer and they can’t accept that.
I will keep my crypto thanks.
It’s becoming a worldwide hedge against inflation. There are numerous countries ahead of the US in its acceptance and usage.
Former first lady Melania Trump announced on Thursday that she will begin selling NFTs, or non-fungible tokens, becoming the latest personality to embrace the hot digital collectible trend.
Just something to ask yourself what happens as that number keeps growing and they make more of them?
Essentially seems like there is a potentially infinite amount of crypto out there.
Again, I really don't care, no dog in this fight and you do you, but it's interesting to discuss.
Bitcoin is a currency. Most other cryptos are tokens on a blockchain that have a specific job or do an activity basically to support Web 3.0 which will be the future of the internet and how the world will operate very soon.
Just something to ask yourself what happens as that number keeps growing and they make more of them?
It’s no different than a stock market or market cycle. It pumps during the bull market, peaks, then recedes during a bear market, then rinse and repeat.
Bitcoin is the most powerful monitary instrument in the history of mankind.
There is a fixed and absolute supply that will NEVER change
It is free of government control & interference at all levels
It can be transferred instantly globally, to anyone
One bitcoin right now is about $50,000. Twenty years from now when 50,000 US Dollars will only buy you a loaf of bread and a gallon of milk, that 1 bitcoin will still buy you a luxury car
You don't know that supply will never change.
Right now "bitcoin miners" pay the extremely expensive costs of keeping up the bitcoin network and they are fine with this, because their bitcoins created out of thin air covers that cost.
However, bitcoin mining gets halved, and halved, and halved, and eventually ends. At some point on that timeline mining will not cover the expensive costs and at that point the miners will either:
(1) have a majority agree to change the protocol to increase the amount that can be mined, yes this can happen
(2) start charging massive fees somehow someway to upkeep the expensive costs
(3) exit quickly before the masses realize what is happening.
If you are going to use that flawed logic, doesn't everyone die "eventually" ?
small minds.
Bitcoin is a digital asset backed by the USD then can then exchanged to other currency.
gold/silver/lumber/oil/corn/wheat/house/car/boat are hard assets also backed by the USD(except maybe since the gold standard was removed. from the usd backing.
some numbers in your bank account are the digital representation of thew fiat currency you have/dont have as are portfolio stock market accounts.
This is not financial advice. Do not invest in things you do not understand.
The only value of bitcoin is for others to buy it.. it has no merit at all. It can be traced..It is not a product or service..It is not produced . The value is from others buying it .. It is a pyramid in which those that get in early benefit. Those that buy high have the highest risk. The entire stock market is also built on a pyramid scheme. Get in early and sell high is the only way to make money. Those that make money get most of it from the investors who lose their money when they buy high and lose most of their money. Sure , the businesses make some money , but the investments the business uses to expand or buy product can lose greatly too. They throw in a lot of gobbliy goop about bitcoin to get people hyped that it has value.
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