this post was submitted on 12 Jun 2023
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Indeed. It's a vehicle for speculation (aka gambling), not a viable currency.
Then it's doomed to deflate endlessly. A quick look at the Great Depression should tell you why that's catastrophically bad. The Fed keeps the USD inflating for a reason.
No crypto bro has any business lecturing anyone on economic fundamentals. Especially not one who seemingly doesn't know that deflation of the main currency is to be prevented at all costs unless you want to see bread lines.
Lol no, it's the same way any up-and-comer has volatile value initially because there's uncertainty as to the outcome.
Great Depression "deflationary spiral" was a direct consequence of the Fed's inflationary policies during the 1920s. These are all just discredited mainstream econ talking points. And get out of here with this "crypto bro" BS, god forbid anyone have an original thought that differs from your thinking.