You’re not off the hook, I’d still like to read the naysayers essays on the US dollar ponzi scheme, It is the biggest ponzi scheme in the world.
Why do I get the impression that if I asked Warren Buffet the same question he wouldn’t really have much of an answer either. I’m confused as to why most people seem to accept one scheme (US Dollar) which is a blatant scam, and another scheme (Bitcoin) where the only issue is people set up stupid businesses around it which affect the value.
And then whey they lose it like today, they lose their savings. I wonder when they will want to get it out.
Its like saying that it should have been protecting wealth from bein eaten by inflation, but looks like interest rates are doing it much better.
Its just about adjusting them. There are reasons why they were kept low, and they were kept too low for my liking. As if someone wanted to deregulate in some certain way to get some cheap tricks with the debt.
I dont like it at all of course. I would do things differently, even years before.
Do you ever wonder if they collect your data on how frequent you visit the cafe for a coffee?
I am rather concerned of losing access to cash even the load up a debit card to use is still a way of being tracked and disected like a frog before being labeled as a potential addict.
This is the thing though, they wont have lost their savings, The actual amount of BTC owned by a person in a wallet on a node or a crypto exchange will never ever just disappear. If I have 1 BTC I don’t lose it suddenly because the value is lower, I will still have 1 BTC it just won’t be worth as much as it was if value goes down.
Never confuse owning your own BTC with anything like Luna or Celsius, with schemes like LUNA the BTC is not in your possession, in this case yes for sure you could very well lose it all.
“Celsius said in a blogpost it was “pausing” all withdrawals and transfers between accounts for its 1.7 million customers. The company offers customers high interest rates – as much as 18% – on their cryptocurrency deposits and pays the interest in crypto assets, which includes its own token, called CEL.”
You see, 18% interest rate which is a silly rate which can never be maintained and will collapse when the economy is slower. They should seriously consider giving back their customers their BTC, forwarding any crypto loan repayments back to customers and then not accept any new investments. The concept is stupid.
In UK my bank said I can earn £40 per month if I let them track and sell my spending habits, This was about 6 months ago when I was offered this so I’m unsure if the offer is still there.
Problem is it is always valued in dollars. You can hold all the tokens in the world, and nobody must buy it from you. Because they dont must to use it. The money circulates. On top of that if people bough tokens on the top, thinking they can only go higher, people have been on delusion pill.
Of course all them tokens will not disapear, money will disapear from that exchange and go somewhere into lambos and houses, while fools keep their tokens.
For bigger fools are tokens, for the rest are things they will use and have fun in.
Until the central bank introduces their version of digital currency that is backed by the Coat of Arms, you know that Great Seal of the United States of a pyramid that is stable as the $USD +/- the current swings from month to month like many common folk guessing I won’t consider bitcorn of any more importance any more than what it is a flutter of hopes and wishes that speculates.
p.s I’m typing out of New Eden and out of character.
Not only on that, data is money.
For every transaction they know “When” (date/time), “Who”(the ID of the other account [and mine]), “What”(even if they don’t know the product exactly, they know the type of objects sold by a particular retailer), “Where” (location of transaction of both parties involved).
The cup of coffee I buy at a café is not tax deductible(at least not that easy to declare it, it’s technically not impossible but… a lot of hassle in case it’s looked into.), that’s why I have a coffee maker that I locate in the part of the house where my office is. Less receipt gathering. 
It is bad enough when the high tech cameras are focusing on your eye movement and facial expressions while browsing in a department store that monitors which products make you look at and on which shelf.
Now you mention such, I sometimes find it strange that NPC’s will warp in more frequently when I undock more than one pilot to mine.
I have had some situations where 2/3 attack, and one stays at a distance, staring at me. Maybe CCP can log in as an NPC then look at what people to?
Meanwhile the Internet stays calm about the volatile BTC market ;
Its actually entertainment when you are not invested in crypto.
The rate of inflation in the US has spiked to 8.6% this month, the highest ever in 40-years.
We will see if you find it entertaining when the US Dollar ponzi scheme crashes. Don’t think that it is only crypto crashing buddy. Fiat money is also crashing world-wide.
86% !! which is worse than BTC, but none of the naysayers have anything to say about it.
People will stop spending excessively and inflation will be gone. Part of the road where we have to look back and take few steps back as a global entity. Maybe use more efficient methods for everything.
Just need correct people in correct places taking correct decisions.
Bitcoin cant be fixed. Economy can.
Cool, then more money will be in savings and current accounts, this will devalue when they print more money. So everyone stopping spending won’t solve it.
And what might that be?
Who might that be and what position will they be in?
So you want them to fix a ponzi scheme? I’m unsure if that is possible.
Perhaps you should forget about the increase and loss of value for BTC, the only reason it happened is because people created unrealistic businesses surrounding it which gave BTC an unrealistic value. I got involved in BTC because of it’s rigid logic not because silly businesses inflated the price. So you should have dislike for the people who run LUNA and Celsius, the next time 20% interest is offered tell them it’s not realistic or sustainable and then remove it from your mind straight away.
The BTC price we see now is the “No Bull ■■■■” price which I am actually okay with, I like to see the raw uncensored reality, not the manipulated reality.
Just as a comparison, here in switzerland we have currently ~2.5% inflation. Since our government did not print excessive amounts of money to save the economy during covid, that’s probably the inflation caused by the energy and food supply issues.
Now compare this to the Euro and USD where they printed a shitton of money with 7-8% inflation.
This isn’t going to be fixed with people buying less.
The reason why everything, not just crypto is currently crashing is because the US has to do everything now and fight inflation, to the determent of all risk-on assets.
It’s even entertaining if you are invested, at least for me. Because I’m not in the business of selling Bitcoin, I just want to accumulate for the long term, and I don’t mind the discount. Buying again regularly since 30k and will continue to do so until the end of the bear market.
I Know that Switzerland has always been commended for their citezens living within their means and not borrowing much.
The whole world could learn something from Switzerland.
The situation with dollars is so bad that I don’t even think the US can afford to pay it’s own bills like pensions, medicines, defence. I think they print money to cover this. It is a terrible situation and something must change right now.
Of course, and that can be achieved without bitcoin. That I had in mind writing about correct people in correct place, taking correct decisions.
And I dont mean Karak Terrel, lol.
It isnt bad. It isnt first time people are going thru it, and it isnt something like a crypto crash at all. The debt must be reduced, and inflation is going to do that. The recession will be people waking up from the dream of cheap credit.
It seems the US is in a position where it might be impossible to reverse. If they stop printing money it will collapse as they wont have enough to pay their bills. If they continue to print money the dollar loses more value.
How do we solve it from the point it is at now, and why isn’t Bitcoin a solution?
It’s terrible, we are very close to the highest interest rate in the history of the dollar.
