Last I checked, the fiat in my wallet exists.
RE: A trillion here, a trillion there, pretty soon we are talking about real money!
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A trillion here, a trillion there, pretty soon we are talking about real money!
This is true but it is NOT currency even though its acceptable as payment. it's legal tender for all debts. This keeps the illusion going you know but it isnt gold. It isnt bitcoin. It's an evil forced upon the whole of the world. Leveraged as extortion for very valuable, nay, necessary things.
Like think of all the time you spend trying to get money..
Now think of the fact that the fed is literally printing it into oblivion. trying to chase their tail solving problems they cause
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It is very much currency, accepted just about everywhere and enforced by aircraft carriers. Whether you agree with its creation or not is another issue entirely, but fiat and USD are very much currencies.
Perhaps at some point Bitcoin can become a global currency of sorts, with everything priced in satoshis, but it will take a global revolution for that to happen, and one that probably isn't happening in the immediate future.
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I stand corrected you are correct it is currency. It isn't money. Its debt. A ponzu basically. House of cards falls on us every time.
Bitcoin was made after that last crisis. I think this one will be good for it.
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Regarding BTC, I hope you are right, so far it has acted poorly. Selling off with everything else. Though I suspect it may act like precious metals did back in 2008-2009, initially selling off with everything but then soaring as the bailouts started rolling out.
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I dont think a parabola is likely in many assets but BTC for sure without some weird capitulation period making folks sell. There is always one before a boom.
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