Personally I don't entertain Bitcoin discussions that suggest Bitcoin is currently a SOV, inflation hedge, 'crypto', a currency/MOE or the savior of humanity. Too many people conflate Bitcoin's potential with the current asset class BTC belongs in.
I feel tether is going to eventually be a disaster/writing on the wall for more exchanges. I could be wrong, but I don't feel confident with the supply out there that's supposedly being covered 1 to 1. I mean if whales were to just cash it all out more exchanges would be hurting at a minimum. I personally wouldn't hold tether long and would only use it when selling crypto and then cashing out all in same time frame back to bank (to avoid fees on Coinbase etc). I never used it as a long term holder for money on the side and don't recommend any one doing that.
Not surprising that Crypto is rife with grifters and conman…. Just like anything involving money. The bigger question is it all just a Ponzi scheme? Currencies and other assets also run on mathematical properties, that’s not something inherently special. Seems like they just invented a new bank for doomsday preppers/anti central bank folks.
So is Binance’s recovery fund essentially a lender of last resort…. Dare I say a crypto central bank? Its almost like Crypto is undergoing the last several hundred years of financial/currency history within a several year window.
Larry David and other celebrities named in FTX lawsuit https://www.nbcnews.com/business/bu...m-bankman-fried-celebrity-promoters-rcna57453 Spoiler
Gigi's work is really important and it's what finally helped me turn the corner on Bitcoin from thinking "neat idea/passing fad/tech scam" to realizing it is one of the most important advancements in human civilization ever, right up there with electricity, penicillin, the internet, etc. In my experience, if people don't care about the concept of sound money, they're not going to be swayed by Bitcoin until they learn just how problematic the current monetary system is (including methods of saving, investment, and exchange).
they'll be swayed by the price increase and have no choice but to adopt it will just be at a much higher price same reason everyone was compelled to adopt a gold standard
Yeah this dude is not a great spokesperson for Bitcoin. I've seen worse, but nobody trusts a guy under 40 in a hoodie on a fuzzy webcam.
There’s no silver bullet. Despite all these “mathematical properties”, still seems to have many of the same issues.
