I was in a discord server yesterday and people were talking about this trading range that we have been in for BTC.
I realized I'm a crypto OG because I just don't care at all.
And like I said there, I just know fiat is going to break.
By "break" I mean that will be devalued by commercial actors. So I'm sure the USD, EUR, JPY, and most of the rest of them will continue to exist.
The Fed will still be there, federal government deficits will skyrocket in nominal terms while falling in real terms, all the dictates and laws around money will still be there.
But.
BUT!
There's now competition. Crypto is that competition.
A quick word about gold.
There is no shortage of digital ink being spilled from mostly older guys talking about these same issues and how gold or silver will benefit.
Gold is weird. It was the original form of universal money. Then governments around the world pulled a bait and switch to force everyone into fiat. Now, goldbugs talk about how inflation will kill the dollar and people will go back to gold.
At first, fiat money was a money substitute for gold. Now gold is a money substitute for fiat. Like I said, gold is weird.
But there's a giant problem. Gold is a worse money substitute than fiat. Even if you have willing buyers and sellers, gold suffers from lack of liquidity because of the need for physical transport.
And if you solve that issue by having a debit card linked to an allocated gold storage account, you might as well be using fiat anyways.
Back to Crypto
Crypto does not suffer the drawbacks of gold. Sure, it has its own drawbacks but those will be solved as the market grows.
So, finally, after about 100 years, we (the people who are paying fiat inflation rather than receiving fiat inflation) have a choice. We can transact in crypto.
Over time, more and more people will understand the benefits and adopt crypto as their preferred money.
And what does that mean? That means that the purchasing power of the dollar (and other fiats) will crumble. Said another way, the market cap of crypto will rise. Bigly.
So no, I don't care what the price of BTC is. I like to see numbergoup as much as the next guy, but it doesn't actually matter.
I know it's going way, way higher.
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That's how I look at it too.
Fiat is already massively broken.
Its not about what BTC or HIVE is worth measured against fiat today.
Its about being a small mammal as a giant asteroid obliterates the dinosaurs.
Digital Gold over Gold any-fucking-day sir. ✌️
Bitcoin is going only in one direction. ☝️
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Couldn't agree more and it's quite laughable when you look to the Marketcap and see game coins like TLM above Hive lol. I mean the prices of most crypto coins aren't real, what is real is the development of every chain and this one has been doing it great to be the first year after the HF.
About Bitcoin, I agree that is much better than FIAT, although I don't know what will do next, as we're waiting to see if it's going upwards or downwards right now. But at the end it doesn't really matter if you aren't a trader looking for quick profits.
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I just use Wax and look for any gaming project there, is a good place if you know how to play your cards, easy money flowing everywhere.
Silver filled that need for liquidity when societies used bi-metallic money systems. Gold for the large purchases, silver for daily use.
As for crypto over gold, I don't see it that way. It's more like crypto and gold. Crypto is only as good as the electronic systems in place. Once those fail, it's worse than useless. At least fiat can be used to light the fireplace or a trip to the loo. Then it's gold (and silver) to the rescue.
If anything, gold is the BREAK GLASS IN CASE OF EMERGENCY money. We can use crypto as much as possible, but when it becomes impossible we can still use gold (and silver).
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What happens after gold evaporates due to some sort of cosmic alien radiation explosion that turns soft metals in to glue stains?
Back to sea-shells....and walnuts
Its a waste of time relying on anything. There might not be any humans left to trade it with. All this speculation is what makes traders and analysts lose their hair too soon. Just relax and enjoy the game. England lost the final of the Euros yesterday. Who cares? I enjoyed the game!
He who recognises that he has enough NOW will always be rich :)
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I had a friend who used to say, "live life until the wheels fall off"
He is dead now.. for your information. May he rest in peace.
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wow. thats a heck of a saying! I suppose we all have our strategy for dealing with this insanely mysterious life conundrum that we have been presented with. Fair play to him. Personally I have wheels that fall off all the time at a moments notice so I have to be a bit less reckless about the way I live. He must have had quite a ride : ) big love x
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Sure, why not?
The purpose of gold as money is to serve as a medium of exchange, and that means it is a good which all parties to a transaction will gladly accept when direct trades via barter are not practical. Not everyone wants to trade chicken for cattle all the time, and not everyone will want to trade cattle for chicken all the time-- but everyone could trade either for grains.
In the event that an extraterrestrial event irradiates all precious metals-- or one of our own kind executes the Goldfinger version of Operation Grand Slam-- we simply figure out what item is out there which satisfies all qualifications to be considered money and we start over. If it's sea-shells and walnuts, then so be it. After some time, money will take on a form more in line with what we expect it to be.
Gold became money because it had utility beyond jewelry and ornamentation. Without utility, gold is just a special edition Pet Rock. What matters is the utility people assign it.
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Best part of this post is you said "bigly" :-)
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Crypto indeed makes much more sense than fiat and gold.
Considering that I can earn some tokens through content creation, I'm more than excited about crypto becoming the real deal.
My hopes are that CBDCs won't become the alternatives for fiat.
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Gold may become secondary to silver in the near future, because of the need for silver in new technology.
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I have been watching this bitcoin price lately and I am not happy with the amount of manipulation going on, the whales that are doing this needs to be arrested that is why I will not be sad if cryptocurrency gets regulated so that when the price do funny things we will have who to blame
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said everyone in the financial legacy system
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In terms of Bitcoin as an technology and blockchain I am also not really cared about its price. For me the Bitcoin price is some form of forecast of the market but with a grain of salt of course.
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And as we move further and further into the digital age, more and more advantages will be discovered for cryptocurrencies, and although gold will continue and there will be people who buy it as a store of value, crypto is much better.
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Nice, price is just a complementary thing
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If you are aiming for long-term goals then there is no point in worrying about the mid-term goals and charts. The fundamentals are enough but we have to keep in mind that these things take time to shift. SO, It may take another decade for complete shift of store of value to gold but it is inevitable.
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Neal you know I'm a sort of Gold Bug (not as maximalist). Gold is weird because central banks still buy it and store it.. well at least not Canada.
What's even more weird is that they also manipulate the paper price to the low side.
Stack physical, because that's what the central banks do. Paper price is like watching BTC going up and down. You don't own it if you don't hold it (BTC included).
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All true
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