Quote:
Originally Posted by ithos
You do realize that BTC only comprises less than half the total market cap of crypto? And most of it is transactions are in Tethers which has never been subjected to a credible audit. This is why
There has to be a means of exchange. Soverign currencies can and have been successful when managed properly. Of course if you slash interest rates during prosperous times and expand the money supply at a faster rate than economic expansion then inflation will take its toll. During COVID the Fed demonstrated that.
BTC was designed to be a store of value( and to facilitate criminal activity). But there are extreme risks with custodianship that are not associated with the dollar. Not your keys, not your coin comes with extreme risks. Spend some time reading the horror stories on Reddit. The average person should not touch it with a 10 ft pole unless it is through a reliable broker like Robinhood.
Yes early adopters have become extremely wealthy but they are only a relatively few. The best days are behind it. The only hope for the next leg up is if Trump authorizes the Federal Government to designate it suitable to be a reserve asset
BTC also has the benefit of most of its transactions being conducted not in dollars or another soverign currency but in Tethers which is created almost completely out of thin air.
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Yeah, I have the same respect for both of them..not much.