Quote:
Originally Posted by pocket_zeros
Debt that can't be paid won't be paid. Governments will either default on it or inflate it away. This isn't a secret. The fact you think this is a secret to anyone indicates you overestimate your knowledge vs the average investor.
It's humorous that cryptocurrency advocates would call any other currency system "Lala land". Fiat is decried because governments can create new money out of thin air - the crypto solution was to beat them to it and create their own money out of thin air. It's downright comical.
First part I lol hard .
It has nothing to do about my argument u try to respond ….
U think ure answer proves fiat currency system is ok because in the end they end up facked ?
No idea why u bring paying down those debt when I just said the value of fiat currency is distorted to crazy level being impacted in every aspect of life .
Thats lalaland.
Fwiw Im not an crypto advocate but I don’t have my head in the sand thinking I’m better protected in fiat currency if I leave my money under the bed .
What gives value to a currency or any medium of exchanges value , it’s the confidence in it , plain and simple .
Now confidence can be increase or decrease with different means .
I believe a medium of exchanges like bitcoin is when I receive payment from it ,
the money is there .
If I receive a paper check , I’m not sure the money will be there when I go exchange it at the bank .
That is how I see bitcoin .
Last edited by Montrealcorp; 11-20-2022 at 05:22 PM.