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Money doesn't "move into these currencies". Someone has USD, someone has BTC. They swap. That's it.
by tome 9y ago
Money doesn't "move into these currencies". Someone has USD, someone has BTC. They swap. That's it.
- tome 9y agoOr maybe you mean that too much productive capital is being wasted mining these coins? If so, maybe you're right. I'm not sure that has much to do with a crash that would affect the global economy though.
- pessimizer 9y agoYou're not saying anything that couldn't be said about houses in the US Midwest.
- tome 9y ago> You're not saying anything that couldn't be said about houses in the US Midwest. So? The reason it was problematic for people to pour money into housing was that loans (often loans of around 100%) were secured on these assets. No one is currently securing loans on Bitcoin holdings. If they start to, that will be a problem, but I don't see banks ever securing loans on something so volatile.