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Originally Posted by Aces4
You nailed it, the dollar is only a concept in which everyone must believe for it to be viable. Same as Bitcoin, only government isn’t involved, but they’re trying. I don’t own Bitcoin but I can see why most in the market hate it and other crypto currency. It could be their undoing if people give up their invested “dollar concept” for the “crypto concept”.
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I will say that at some point in the FUTURE, a cryptocurrency might prove useful. Everything EVOLVES and someday may replace credit cards. Whatever shape that would take, it would need government blessing and regulation. The Wild West was less than 2 decades long, yet it has been internalized by modern Americans as practically a Religion of Individuality. Today's cryptocurrency advocates seem to share that rugged INDIVIDUAL mentality from the past. Just like believing that ONLY jack Welsh could run GE. And ONLY Elon Musk could do what Musk has done (and singlehandedly without any staff help). Most every aspect of modern life demands groups working together, NOT individually.
Maybe if Musk had treated the workers at Twitter with some dignity and shown some class in his takeover.........maybe (?) I could have some respect for him. What he did at that Company is the kind of thing that FORCES some workers to become Unionized. And Jeff Bezos is doing the same thing. The German economy does fine with Unions - which helps Germany AVOID these "dumpster fires" that we are talking about in the US. It all goes back to the base question...... is the US strong and does it have a strong middle-class.