1A) Land. Civilization is here to stay. A few years back Destriero said the only way out of our national debt is to inflate our way out. I never forgot that. Pretty sure he was right, especially as we pass the 30 Trillion mark. Now I don't know where crypto's are heading, but I can assure everyone here, land will continue going up. And if we do collapse... buy the dip. On land that is. Good land at least. A picture says a 1000 words: There's no way out except inflation. Or default I guess.
I do agree that people will always be taken advantage of, but right now, the way it works, as someone else put it, those closest to the money printer benefit the most (there is an official name for this phenomenon that escapes me). With bitcoin, anyone can be the money printer. You have private miners, you can have governments doing it, and any government around the world. Everyone can participate. Of course if you can offer a product or service that people will want to exchange for their bitcoin, then this is the basis of economic activity. And I for one happen to think that all a government should do is collect taxes and spend it on programs that the citizens deem necessary. For most things, the government is so inefficient, that the private sector is 100 times better at providing those products or services.
It's called the golden rule. The guy with the gold gets to make the rules. The medium of exchange won't change that. Having a limited number of bitcoin will just make it easier to manipulate.
I do agree with this. Its better to work the system rather than change the system. They don't need to. The Fed is 100% capable of starting said revolution. They have messed up the system so bad, that its either going to end in hyper inflation or a depressionary deflation. Us bitcoin fanatics are just getting the network ready that will take over. I agree the timing was horrible, and I did think there was going to be a strong push toward 100k, at which point I would re-evaluate. But just as I have to accept the timing was wrong, don't you think you need to reconsider the fact that maybe your thesis is wrong? In my trading career, I have already seen many examples where the fiat system in some countries encountered a major problem. In 2015, Greece shut down the banks to prevent a bank run, and a haircut for the depositors was very much on the table. Then there was also the peg that was removed for the Swiss currency which saw an instant 20% rise, but of course many were on the other side of that trade. And although these are just 2 examples off the top of my head, can you tell me with certainty that nothing will ever happen to your dollar deposits other than a slow and gradual devaluation via inflation? Maybe the herd is riding fiat all the way down to the bottom.
No, I was thinking of the Cantillon Effect. https://www.promarket.org/2020/04/1...-why-wall-street-gets-a-bailout-and-you-dont/ You will have to explain what you mean by manipulation. Yes, some have lots of it, and most have hardly anything, but it can't be manipulated in the conventional way of central bank money printing. Here is a nice little intro on why bitcoin is the hardest form of money. https://medium.datadriveninvestor.com/why-bitcoin-is-the-hardest-money-in-the-world-8c0f6487122f