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RE: Biggest Wealth Transfer In History? Bitcoin Hits New All Time High Near $3,000 As Cryptos Surpass $100 Billion Market Cap

in #bitcoin7 years ago

It's not just crypto-anarchists getting into it. I've been involved just a couple years less than you and I would definitely not identify myself as anarchist anything. My theory (one of them, anyway) is that since the Federal Reserve and many other nations' central banks basically just oversee the printing up of money, making those on the top rich while the rest of us pay the bills through our own lost purchasing power due to inflation, these crypto tokens have become a sink for a lot of fiat money. People will pay $3,000 for a Bitcoin, for example. So in a weird way, I think all these cryptocoins have staved off inflation to some extent, by providing another "good" that all this money floating around can chase. It's definitely been a fascinating ride.

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