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Your currency use cases sound fine to me. The wealth ones however look dangerous to me. >Crypto could be the biggest store of value. The beautiful math behind
by pedrocr 9y ago
Your currency use cases sound fine to me. The wealth ones however look dangerous to me.
>Crypto could be the biggest store of value. The beautiful math behind bitcoin (and others) is self-limiting creating real scarcity. With mass adoption will come stability.
Currencies should never be used to store value. No one should hold large amounts of wealth in Euros or Dollars and almost no one does. You hold wealth in actual productive assets like land, stocks, bonds, etc. That we price these in Euros or Dollars is irrelevant and we can price them in Bitcoin just as well. Nothing the central banks that control fiat currencies do changes the underlying worth of these assets even if they can generate temporary valuation swings.
>Crypto could become the "people's" wealth vault, and undercut nations ability to tax & control markets by truly privatizing wealth. All it takes is MOST of us to decide.
This to me sounds even riskier. People shouldn't be going out and buying bitcoin to do any of this when there are plentiful cheap instruments out there to actually invest in assets. Go buy ETFs of broadly diversified asset classes (stocks and bonds would suffice but real estate ones also exist) and leave the innovation in crypto currencies to sort itself out.