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Comments

(Un)Fortunate Son 5 days
He ain’t wrong. He never said it wasn’t profitable however it can be a serious gamble.
The Masta 5 days
Yep. All that crypto BS will the scapegoat for the next Great Depression. Mark my words, they will blame it on Bitcoin. It should never have been made legal and mainstream.
(Un)Fortunate Son 5 days
TheMasta We already have regressive socialists like AOC whom are actually trying to destroy our economy. Her chief of staff literally admitted to that being the plan of the GND. Pretty sure bitcoin is safe my dude
Akira Kevin 5 days
uh, no. Trump is wrong as fuck. crypto is based on confidence, THE EXACT SAME THING US DOLLARS ARE RIDING ON. y'all need a lesson on currency. if it isn't property, or backed by property, it's "based on thin air", which is market confidence. crypto operates like gold more than our garbage fiat currency, with the ONLY catch being the potential for governments to ban it. if that is possible, and happens, it would obviously kill it. otherwise it's actually almost as good as gold (if you know the difference between a hype spike and normal trading). edit: apologies if you already knew this and just being a pessimist 😂 but ppl need to know what it is, because if it CAN'T be stripped by govt...it could cripple the world's governments.

David M. Bebber 5 days
...much like USD or any other fiat currency.
Robert 5 days
Exactly: "Gold is currency, everything else is credit" -JP Morgan
J Barnes 3 days
Fiat currency is not backed by gold anymore either

GG WP 5 days
How is this "dumb shit" exactly? It's entirely accurate. Anyone who is even remotely familiar with the crypto market would agree.
John Curtin 5 days
Example?
Skinsfan92 5 days
cryptos value comes from (1) speculation, (2) cost of mining/storage, and (3) the market (e.g. how often is BTC being traded for goods and alt-coins). from my basic understanding of crypto. I'm no expert.
Akira Kevin 5 days
skinsfan: you mean like all the world's current currency? the only difference is that you can't "print" crypto on a whim- it's MORE stable than govt fiat $

Sailorman 5 days
The value of everything is based on people’s perception of its value.. from crypto to fiat to real estate to gold... fiat currencies have absolutely nothing backing their value either except again people’s perceived value of it
Robert 5 days
Well, gold makes sense, because land isn't uniform, you can't divide a cow, and veggies parish. Honestly, studying economics is a little terrifying, seeing how fragile the global system is. The dollar only has value because people have faith in it, if it was to lose a significant portion of value, people would lose faith, which would cause it to lose more value. The gov can only cut rates so much. Less of a question of if this system will fail, more of When?

Roadhog 5 days
Cryptos have value for the same reasons fiat currencies do. 1. Currency is a useful tool of exchange. If I want to buy what you're selling, I don't need to check your Amazon wishlist for something I can barter with. I'll just pay in a currency you accept. 2. Currency can store value longer than most things. When I'm saving for retirement, I'll use currencies that I don't expect to plummet in value rather than goats and chickens. And then there are some advantages for decentralized cryptos over government money. Like the ability to evade capital controls and bypass hyperinflation, for this reason Bitcoin has helped many Venezuelans scrape by already. Probably the single greatest feature of decentralized cryptos is the inability of oppressive governments to control it. Only a matter of time before we will need it too.

Cory Pritchard 5 days
Its value comes from the collective disgust for the banking system and system in general.

Rocky LeBlanc 5 days
Thin air and China's ability to manipulate a market that they centralized control of the supply. ChinaCoin.

Hubert Żurawik 5 days
See, this is what you can criticize Trump. Dumb s$#@ like this.
ConcealCarryProtect 5 days
Well he isnt wrong though. They are incredibly volatile, but also not subject to banks.
Robert 5 days
No, not on this one. Bitcoin actually makes more sense than than the non-goldbacked dollar. At least their is some limit on its supply other than "the government says so."

Naidu VGA 5 days
Another pottie post from the king of the toilet wall scribblers.
Beisht Kione 4 days
Hes not wrong though. I'm thinking about dipping my toe in, but it's not exactly a safe bet.

Raymond M Hein Jr 2 days
the u.s. dollar is also based on thin air

david dindu 3 days
usd is backed by opec oil. thats why we always ignore the dumb shit shit saudi arabia does