Cryptocurrencies — a way to opt out of the Dollar?
Do you look to crypto’s as a way to opt out of the Dollar?
Do you think Venezuelan people would have liked an option to opt out of the Bolivar?
Do you think the people in Greece would have liked more control before their bank monies were seized?
I think it’s question that is fair but all information should be stated up front and that where it gets messy.
Because there has been massively devaluation of the purchasing power of the US Dollar over the years....see below:
But it gets messy when you ask the question of why?
It gets messy when you ask about what happened with the gold backed dollar.
You ask too many questions of why and it goes back to bankers and control. It goes back to Federal Reserves and printing money with reckless abandon around the world and no transparency. This is our system today.
Yet — we are asked why we put a little money into a crypto so that one day you can have some profit.
I would say more that the central bankers opted out of transparency and accountability starting in 1913.
Fast forward to today and make no doubt there is massive control of Bitcoin pricing today. There are great efforts for the old system to seize and take control and profit off of cryptos because this is what they do.
Let’s watch what happens going into the end of the year. Let’s see who controls what.
And what timing we have for the next act to take place — watch what happens with the Euro and Italian Banks.
What happens when Italian Banks have a domino effect on other banks?
We don’t know the solvency of the banks. We don’t know who will be affected. But many will be affected.
When this happens, what are your options?
Thanks for the great post floridanow. No doubt our financial systems today are a corrupt mess. Crypto is definitely a product that intends to fix this. However, it seems not so many people in the crypto space are in it for that reason. It seems that most are in this space to profit from crypto converting them into fiat. Unfortunately, today crypto needs a strong bridge to fiat. With time, massive adoption will take place and people will naturally opt out of fiat and will opt into crypto.
Thank you. Yes we are in the early adopter stage so investment and store of value are the goals. Soon there will a crypto highway for big and small. It takes time, but less time than we think.
True. I hope it does take less time than we think.
Great graph. Cryptos can't do any worse than the dollar, only better.
The US Dollar is an “inflationary currency” meaning the more they print the less it’s worth. Bitcoin is “deflationary” becuase it is limited by design you cannot print more — the more people buy — the more it’s worth. That is as simple as I can say it.
I get that. I have a question. When bitcoin is sold, then someone else is buying it, then why does the price go down?
More sellers than buyers. Imagine a whale or cabal has been hoarding BTC and steadily sells into smaller hands ...the amount of buyers shrink and get out of the way. It’s more sophisticated than this when they do a job....and this has been a coordinated “hit” so they could get in “lower”.
The US Dollar is an “inflationary currency” meaning the more they print the less it’s worth. Bitcoin is “deflationary” becuase it is limited by design you cannot print more — the more people buy — the more it’s worth. That is as simple as I can say it.