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I think that most hardcore Bitcoin aficionados (the group that's still in it, even now that the bubble has burst and you can't get rich off of it) Um… you do k
by alwillis 6y ago
I think that most hardcore Bitcoin aficionados (the group that's still in it, even now that the bubble has burst and you can't get rich off of it)
Um… you do know Bitcoin is up 75% since mid-March, right? You certainly could haven gotten rich from that [1].
There doesn't have to be catastrophic collapse… the US government is doing devaluing the dollar all on its own. The dollar has lost 40% of its value since 1985 and 80% since 1970 [2].
And now with COVID-19, we’re printing trillions of dollars to keep the country and the global economy afloat. The pandemic is out of control in large chunk of the US; we're hitting new daily infection rates nearly everyday.
If you look at the big picture, we're experiencing a slow-motion economic collapse. The Fed and the other central banks are trying to land this 747 without crashing while the plane is on fire and and the equipment ain't working so good.
Meanwhile, the only asset that can't be manipulated or inflated is Bitcoin and that's going to be looking pretty good once we land… remember, any landing you can walk away from is a good one.
[1]: https://www.bloomberg.com/news/articles/2020-06-12/jpmorgan-says-bitcoin-crash-survival-shows-it-has-staying-power https://www.bloomberg.com/news/articles/2020-06-12/jpmorgan-...
[2]: https://seekingalpha.com/article/137051-the-dollars-20th-century-decline https://seekingalpha.com/article/137051-the-dollars-20th-cen...