A Wall Street analyst that gets it
The following quote from Viktor Shvetz really made me smile. I would personally love to here Jamie "Glass House" Dimon respond to this.
"It is unlikely that US$400 trillion+ of financial instruments circulating around the world would ever be repaid and most are now backed by assets that are already either worthless or are diminishing in value. How does one describe rates and the yield curve that are either directly determined by [central banks] ([Bank of Japan] or [People's Bank of China]) or heavily influenced by them ([The] Fed or [European Central Bank])? People living in glass houses should not throw stones."
This is a man that gets it. How can anyone that works within the system described above have the audacity to call Bitcoin a fraud. Of course it is volatile, but that is simply a function of the current distribution and I think over time it will stabilize more and more because there are far more hodlers then speculators in the world. Fiat currency is a fraud of epic proportions and the banks happily go on about their business. It is only when a technology such as the blockchain threatens to take food off their table that they feel the need to speak up.
Every day the dollars in my pocket are worth less and less and my crypto is worth more and more.
image courtesy pixabay
Lots of people want to destroy cryptos as they see it as direct competition
I missed the window to correct the typo of here to hear. I am not sure exactly how I would "here" someone.
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