While morons like John Foley from Reuters write hit pieces like the one linked below, he failed to mention the good news, but accentuated everything that sounds scary. He claims crypto is batting 0 for 3 on its advantages, but that's not true...
#1) Is it a form of payment that can still be used anywhere in the world?
Yes, yes it can John. We just aren't going to run off and tell the Chinese government were doing it. That's why it's called "Crypto", dude.
#2) Is the supply limited making it inflation proof? Many are like Bitcoin, others are inflationary. It depends on the designed purpose of the particular 2,000 plus coins there are to choose from.
#3) Can it be manipulated by central bankers or governments?
No, it can't. There are simply too many of them and new issues arrive every day. However, just like every other currency, commodity, or laborer on the planet cryptos are subject to the immutable Laws of Supply and Demand.
As an alternative to crypto, Mr. Foley and every filthy rich central banker on Earth offers you an ever eroding fiat currency which has not only lost lost 99% of it's purchasing power over the last century, but has been manipulated to cause depressions, recessions, and credit crises the world over.
Like carnival hawkers crying "Come try your luck with me, suckers!" They offer their fiat carrot on a stick. You won't get the carrot, but you will definitely get the rest of it. It's okay, John. You've done your duty for thieves and country.
PS- In a matter of hours Bitcoin recovered 98.5% of it's losses with no master manipulator involved.
https://www.reuters.com/breakingviews/bitcoin-is-now-worst-all-financial-worlds-2021-05-19/
No comments:
Post a Comment
Flex your First Amendment Rights and speak your mind...