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Every year the federal government is creating trillions of new dollars diluting the value of your money and shifting the wealth to whoever gets their hands on t
by Consultant32452 5y ago
Every year the federal government is creating trillions of new dollars diluting the value of your money and shifting the wealth to whoever gets their hands on that new currency, which is mostly large corporations and the wealthy.
Early adopters making a bunch of money doesn't concern me at all because that's a short-term issue compared to the USD wealth transfer which will continue forever into the future.
Crypto is new, and there's definitely a lot of volatility there with new coins popping up and being destroyed far more frequently than legacy currencies. I expect this will die down over time.
FWIW my time horizon for thinking about these things is 50+ years.
Imagine I tried to convince you to use my new foo-coin. The hand full people of who have the most foo-coins can issue themselves as many new foo-coins as they want, but nobody else can create any foo-coins. You would probably think this is a nonsensical currency that no one would think is reasonable to use. Except that is practically how the USD works. The USD is designed specifically for the purposes of corruption.