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This is pretty much spot-on. Almost all of the 'value' that Bitcoin currently has is hype and insane over-inflation. I weep for those that won't be able to ca
by holtalanm 9y ago
This is pretty much spot-on. Almost all of the 'value' that Bitcoin currently has is hype and insane over-inflation. I weep for those that won't be able to cash out on the exchanges when the price crashes, and they lose all their money.
- hndamien 9y agoI'm not sure if it is an illusion of safety, because the infrastructure around Bitcoin (which itself seems safe) is remarkably better now than it was 5 or 6 years ago. This is nothing like how wild it was then, so in comparison, it seems like it is almost regulated.
- Jasper_ 9y agoSays who? Most of the popular exchanges don't trade in USD, they trade in Tethers, which only have a promise, not a basic audit, that they are backed by actual USD.
- hndamien 9y agoEverybody knows Tethers are worthless, and "backed" by a flimsy promise that they are not backed by anything. I would say that this is remarkably transparent that the Emporer has no clothes. Compared to Mt Gox, which I suspected was insolvent from their actions only while the world kept on believing. This is a major improvement.