Just thought it might be interesting to see everyone's view. Please be respectful in this thread, I thought it would be a good idea to set out our differences and have a discussion. So lets get to it!
None of the voting options really fit my view, which could best be described as agnostic I guess. I don't love it or hate it. Personally there isn't a place for it in my life in any way, but I respect that some folks have made fortunes and find it to be incredibly worthwhile.
I will vote for this : It can go up from 5 to 6 to 7 to 8 ... digits. It can also go down from 5 to 4 to 3 to 2 to 1 digit.
I like it to the extent that I hate the Fed and abuse of power by central banks. I hate governments printing money out of thin air to buy votes and bailouts for the too big to fail and passing the costs onto my children and the hidden tax of inflation. The enemy of my enemy is my friend I guess. I want a world with a stable store of value that does not lose purchasing power with time (essentially devaluing the rewards for past work). Chart below needs an update for the last 2 years.
noted. it is trending down. But this chart doesn't make sense unless you compare it with other currencies. Please also show other currencies with the rising trend since 1910.
The Russian Ruble has strengthened quite a lot since at least 1998. Collapse of the Soviet Union likely had a lot to do with that. I don't have data going back to 1910. But the strength of the currency should be proportional to the debt and credit worthiness of the nation. Lately, there's been a ton of debt in most places around the world.
I hate about crypto that it is almost a religion. It's like preachers in a mall - you can't avoid them. Back in the day Forex trading was the religion you couldn't avoid, now it's crypto and meme stonks. If people would put in as much energy into learning to trade as they use to talk about crypto they would reach seven figures a lot sooner.
I love everything about crypto, decentralized currency, constant/set supply so basically disinflationary, blockchain, etc... my 2 main hang ups essentially revolve around its high risk: 1) no SIPC or FDIC...and people do have their wallets hacked, there is no way around that. yes, most of the time it is their own fault for not following safety procedures...taking a screen shot of your recovery seed instead of writing down, not using a hardware wallet, etc...but still a higher level of personal responsibility must be adopted to protect yourself. 2) several countries have already banned the use of CC. Imagine what would happen if the US decided it was a threat to the USD and banned it. They already push the narrative of "its primarily used for illegal black market transactions". Nearly all value would be completely wiped out instantly. Is this likely? probably not but the world is pretty fucky right now.
So in the last 40 years the dollar lost only half of its purchasing power? That is actually pretty good. The real problem is if salaries didn't keep up with it.
Yes. That's about the time the US started aggressively outsourcing all production overseas. Go into a Walmart and try to find something other than food or fluids that is made in America. Not easy to do.