I like that you don't mince your words. The way I see it is that we need another form of indisputable value we can peg to, something outside the control of governments and markets. Something like gold (I know that is also manipulated) but a finite yokiemaboodle that we can all agree has value. Maybe Water, Unit of energy, unit of time.
Whatever it may be I believe we need to get away for valuing crypto in the fiat shitcoins of the world. It can be much more than that.
We already have it, and its called satoshis, once you start pricing all altcoins in satoshis you'll see how pathetic the performance has been and how they all continue to lose ground to bitcoin.
Who cares if something is %20 up, when 20% of new dollars has been created in the same period, trying to measure your performance in fiat is only there to keep you from actually realising any profits
Well, you are right, although the dollar is better than the junk currencies of our third world countries, when it explodes the most affected will be us.
For example in Venezuela the dollar although it has a world wide inflation in my country everything has gone up 30% or 60% since the beginning of May.
It is unbelievable how prices have skyrocketed and to make a market for a family of two 2 months ago $40 was needed, now not even $100 is enough, we are drowning in misery.
That is heartbreaking to read, while prices are skyrocketting here too, its by no means a 150% increase yet. I do understand that people want a medium of exchange to use to live, and not everyone has the ablity to save, but what I ma saying is that these stablecoins carry risk and are NOT the flight to safety they are sold as
Why does that matter? You're trying to pick up pennies in front of a steamroller, if you want to create tax liabilities trying to outtrade the market be my guest
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I like that you don't mince your words. The way I see it is that we need another form of indisputable value we can peg to, something outside the control of governments and markets. Something like gold (I know that is also manipulated) but a finite yokiemaboodle that we can all agree has value. Maybe Water, Unit of energy, unit of time.
Whatever it may be I believe we need to get away for valuing crypto in the fiat shitcoins of the world. It can be much more than that.
We already have it, and its called satoshis, once you start pricing all altcoins in satoshis you'll see how pathetic the performance has been and how they all continue to lose ground to bitcoin.
Who cares if something is %20 up, when 20% of new dollars has been created in the same period, trying to measure your performance in fiat is only there to keep you from actually realising any profits
Well, you are right, although the dollar is better than the junk currencies of our third world countries, when it explodes the most affected will be us.
For example in Venezuela the dollar although it has a world wide inflation in my country everything has gone up 30% or 60% since the beginning of May.
It is unbelievable how prices have skyrocketed and to make a market for a family of two 2 months ago $40 was needed, now not even $100 is enough, we are drowning in misery.
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That is heartbreaking to read, while prices are skyrocketting here too, its by no means a 150% increase yet. I do understand that people want a medium of exchange to use to live, and not everyone has the ablity to save, but what I ma saying is that these stablecoins carry risk and are NOT the flight to safety they are sold as
Sure UST is the perfect example of that.
some great insights. should we pay the high fees to transfer between exchanges though?
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Why does that matter? You're trying to pick up pennies in front of a steamroller, if you want to create tax liabilities trying to outtrade the market be my guest
so we should just buy and hodl?
Some times we have to transact with crypto too.
Buy and hodl bitcoin has been proven to provide the best risk-return, if you think you can beat it by all means
i think there isnt any beating it. but for practical use, what can we use?
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This is an interesting conversation. Given your thoughts on stablecoins pegged to USD, I'm curious about your take on coins pegged to gold?
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