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Imagine cryptos being the mayor currency used. Everyone needs to adapt their lifestyle to that of a gambler. Every month you need to convert your income coins t
by holoduke 5y ago
Imagine cryptos being the mayor currency used. Everyone needs to adapt their lifestyle to that of a gambler. Every month you need to convert your income coins to other coins. The amount of extreme poverty would be staggering. A few large pump and dump moments a year. Organized by powerful individuals becoming extremely rich and making thousands poor.
- imtringued 5y agoImagine if Bill Gates or Jeff Bezos put all his money into Bitcoin. There is no way anyone else would catch up and they don't even have to create the second Microsoft, Amazon or do anything innovative, just "HODL" for all eternity and become rich from doing nothing.
- nexuist 5y agoI believe this is called "housing" or "landlording" in non-tech circles
- bingbong70 5y agoGold was volatile when it was initially introduced as a store of value too. Look up the historical charts when compared to silver (the primary store of value at that point in history)
- thebean11 5y agoYou could store your money in stablecoins, tied to the price of USD, wheat, energy, whatever you like. Decentralized USD stablecoins not actually backed by USD already exist.
- deleted 5y ago[deleted]