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> not far from replacing your consumer bank Compared to most users here, I live in the middle of nowhere. Most stores don't even accept credit cars or do so be
by 5e92cb50239222b 5y ago
> not far from replacing your consumer bank
Compared to most users here, I live in the middle of nowhere. Most stores don't even accept credit cars or do so begrudgingly because cash payments allow them to pocket tax money. Even if this whole crypto-nonsense doesn't crash and burn in the end (which I consider highly unlikely, but what the hell do I know?), it will be ready to replace my bank in… let's say 50-60 years. Let's get extremely reliable internet connection to every shithole on the planet first, and then we'll see.
- dustingetz 5y ago1. I also think the crypto prices are going to collapse but everything I just listed is stablecoin denominated. The question is if all the stablecoins go down too - Matt Levine flipped me on this topic: https://archive.md/cQVJl https://archive.md/cQVJl 2. price "collapse" of 90% is actually not a collapse if it's up more than 10x in a small number of years 3. MEME-POWER is an incredible force, HODL may be enough to keep the perpetual motion machine moving. Markets are only as rational as humans! 4. the TIMING of collapse matters – covid/climate policy is perpetuating the bubbles and it seems governments might fracture before crypto fails, at which point where would you rather be, dollars or crypto? 5. the costs of inflation/bubbles is shouldered on the middle class and poor, so it actually is being paid for and may not actually be out of balance 6. We may be looking at a housing market generational situation. The answer is not to second guess the market, that's how you miss generational gains.