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It's bizarre that in this tread, the US dollar is treated like an immaculate flawless tool for transferring value. But in every thread about economics, its agre

It's bizarre that in this tread, the US dollar is treated like an immaculate flawless tool for transferring value. But in every thread about economics, its agreed the US dollar lacks trusts, is being manipulated by the fed, and is the leading cause of gross wealth inequality.

nexthash 6y ago
What is your evidence for these claims? Bitcoin and other cryptocurrencies go through multiple price fluctuations a day. The American dollar currently underpins and backs a majority of the world's financial system [1]. Sure it isn't flawless, but its way better than something that has no backing from anything. I would prefer to use the currency issued by the world's most powerful independent state, because they are probably gonna be around for a while. [1] https://en.wikipedia.org/wiki/International_use_of_the_U.S._dollar https://en.wikipedia.org/wiki/International_use_of_the_U.S._...
- Solvitieg 6y ago
  I'm not making claims, I'm posting my opinion about what I read on this website.
  - lotsofpulp 6y ago
    Because it’s still the best option. I know my USD tomorrow is going to be worth less than USD today. But I don’t think there is a better option for some portion of my assets, and I still trust that it will be useful to me in the future. But I also don’t keep more than a few years worth of USD, instead I hold other equities that I believe will increase in value relative to USD. USD gives me liquidity, but not necessarily a good store of value. Other assets give me store of value, but not liquidity.
    - jkepler 6y ago
      So, compare the volatility of Apple stock to Bitcoin for the last year or two. Which is more volatile, and which one has a long-term downward rate of volatility?
warkdarrior 6y ago
> the US dollar [...] is the leading cause of gross wealth inequality I have never seen this claim made before. Do we have an explanation on why the US dollar causes inequality? Would it improve if the US changed their currency to Yuan or Euro tomorrow? Also, how will cryptocurrencies prevent gross wealth inequality?
- MadSudaca 6y ago
  It will help people who don’t buy assets to keep their wealth over time. That is, the great majority of the world’s population.

nexthash 6y ago

What is your evidence for these claims? Bitcoin and other cryptocurrencies go through multiple price fluctuations a day. The American dollar currently underpins and backs a majority of the world's financial system [1]. Sure it isn't flawless, but its way better than something that has no backing from anything. I would prefer to use the currency issued by the world's most powerful independent state, because they are probably gonna be around for a while. [1] https://en.wikipedia.org/wiki/International_use_of_the_U.S._dollar https://en.wikipedia.org/wiki/International_use_of_the_U.S._...

Solvitieg 6y ago
I'm not making claims, I'm posting my opinion about what I read on this website.
- lotsofpulp 6y ago
  Because it’s still the best option. I know my USD tomorrow is going to be worth less than USD today. But I don’t think there is a better option for some portion of my assets, and I still trust that it will be useful to me in the future. But I also don’t keep more than a few years worth of USD, instead I hold other equities that I believe will increase in value relative to USD. USD gives me liquidity, but not necessarily a good store of value. Other assets give me store of value, but not liquidity.
  - jkepler 6y ago
    So, compare the volatility of Apple stock to Bitcoin for the last year or two. Which is more volatile, and which one has a long-term downward rate of volatility?

warkdarrior 6y ago

> the US dollar [...] is the leading cause of gross wealth inequality I have never seen this claim made before. Do we have an explanation on why the US dollar causes inequality? Would it improve if the US changed their currency to Yuan or Euro tomorrow? Also, how will cryptocurrencies prevent gross wealth inequality?

MadSudaca 6y ago
It will help people who don’t buy assets to keep their wealth over time. That is, the great majority of the world’s population.