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The big reason the crypto industry is so big is because: 1) They are inventing crypto for a NO-MONEY-PRINTING currency. This article "forgot" to call out how
by seaourfreed 5y ago
The big reason the crypto industry is so big is because:
1) They are inventing crypto for a NO-MONEY-PRINTING currency. This article "forgot" to call out how this is the massive few making the crypto industry huge.
2) "bail ins", negative interest rates are the system STEALING from citizens. Governments could never pull this off from the wealthy or corporations. But they feel entitled to be able to do this to the masses. They don't understand how this won't be tolerated by citizens.
3) Crypto paying ~3% interest will be able to be made sustainable. This is DeFi interest when the deposits can be lent out, with risk nearly fully counterbalanced.
Central banks have no clue how the above three are all that is needed to drive citizens to crypto and minimize their USD/CBDC holdings. The amount of crypto supporters shows that #1, #2 and #3 are getting market adoption today.
- andylynch 5y agoTo your point about negative interest rates - these have been a real thing for years depending on where you are, but this can be overlooked because banks have generally avoided passing them to everyday users - however if you are a corporate or high net worth client in Europe these are absolutely a thing, eg Credit Suisse charges up to 0.75% on high CHF balances, but pays interest on smaller deposits.