@tfmonkey Fascinating listening to Max Keiser since he's saying basically the same things you are about America's impeding collapse, particularly because of it's currency, and how the government is trying to hide inflation and is inflating away its debt. However he's massively pro BTC. The significant difference between you two seems to be the conclusion that governments will crack down on BTC. That is, he thinks Bitcoin will become some kind of standard.
https://youtu.be/8QwDxS8ekgo
@ButtWorldsMan a standard for what? What is priced in bitcoin? Nothing.
Even in Venezuela where their currency failed and they have one of the biggest crypto markets in the world, the size of the demand for crypto is 1% of it's demand for USD.
BTC is reliant on Chinese miners and cheap energy. It sucks as a currency and has no intrinsic value.
It's whatever. Nobody listens to me. I'm tired of arguing with people about it, so I'll just wait for the bubble to pop.
@tfmonkey the woman with the guy was talking about how it could be the next international currency. The guy worked on wall st and is from the finance world and seems to unironically believe this shit. That bitcoin will rise above. My problem is that he pushes bitcoin so hard, and even shits all over ETH, so I immediately become suspicious of him. But he seems like a legit bitcoin simp.
@ButtWorldsMan you need to understand the BTC (as well as all crypto currencies) have no intrinsic value. The ONLY way they go up is if they can convince new buyers to enter the market and bid up the price of the crypto.
If it sounds like a ponzi scheme, it kind of it. The people who "got in early" make all the money, and those who buy in last are left holding the bag.
After this bubble, the SEC will likely investigate and regulate, which will (hopefully) prevent a third bubble in the future.
@tfmonkey @ButtWorldsMan
Slight fix
When the crash comes, it won't matter who came in early or who has most zeros. All that will matter will be who will sell early.
Just a slight mistake in the quote. Other then that I agree completelly.
