Discussion in 'Cryptocurrencies' started by dealmaker, Sep 15, 2020 at 10:29 AM.
Good. That shit is a waste of time and resources
Mostly agree. But I like how cryptos put pressure on the central banks to somewhat check their relentless currency devaluation. Also like how cryptocurrencies can be used to escape taxation in case taxes become too confiscatory. Wealth tax? F* that. Put it all in cryptos and leave the country.
Whatever country you go to someone will expect an exchange of currency , for food, shelter. The cops will demand it if your tail light is out. They will throw you in jail if you don't have enough. If you are using a medium dependent upon commodity hardware ,phones , electricity, you are fucked . Lose the file? Fucked. Forget the password ? Fucked . Miles and miles of technobabble defining the spec.. even the people who talk about it look and sound like deranged delusional nerds
Completely untrue. Didn't the US as a stimulus money just create trillions out of thin air?
And cryptos don't put pressure on other cryptos either. The more successful a crypto is, the more imitators created to compete with it.
*India has biometric data on 88% of its population
*India was able to stealthily sledgehammer its black economy by replacing the 500Rs and 1000Rs notes overnight
*Accept it or not Cryptocurrency does facilitate a black economy and if this bill gets passed it will wipe 1 Billion plus users out of the cryptosphere
India might just do it.
The paradox of banning Crypto currencies is that the banning proves they work...
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